Approved by Gov. Mary Fallin on May 1, 2012, Oklahoma House Bill 2967 reduced the surety bond amount required of athlete agents from $250,000 to $50,000. The change went into effect on November 1, 2012.
The new bond requirement is explained as followed in section 10 of the bill.
“C. Every applicant for registration shall also submit to the Secretary of State a valid surety bond in the penal sum of Two Hundred Fifty Thousand Dollars ($250,000.00)Fifty Thousand Dollars ($50,000.00) conditioned upon the athlete agent not violating any provision of this act. Every athlete agent registered under the provisions of this act shall thereafter maintain such a surety bond in like amount as a condition of continued registration.”
If you need a surety bond in Oklahoma or any other state, contact SuretyBonds.com online 24/7 or by phone at 1 (800) 308-4358 Monday through Friday, 7 a.m. to 7 p.m. CST. You’ll be connected with an expert surety specialist who will walk you through each step of the bonding process.