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How much does a veterans organization solicitor bond cost?
Veterans solicitation organizations and solicitors in Texas must post surety bonds in varying amounts prior to conducting business within the state. The required bond amount is based on the total amount of contributions he or she received during the last fiscal year, the organization’s charter status, and the number of counties the solicitor operates in.
These bonds are instantly issued, meaning every applicant qualifies for the same price without a credit check. Each bond has a 25% discount available for subsequent years if multiple years of coverage are purchased.
Why do I need this bond?
Texas veterans organization solicitation and solicitor’s bonds ensure that principals (solicitors) conduct business in accordance with the provisions of Chapter 1804 of the Texas Occupations Code.
If the principal fails to conduct business in compliance with the law and the terms of the surety bond contract, the bond protects any person from financial loss up to the full amount of the bond. The principal must pay the surety for all damages covered.
What’s the fine print?
Veterans organization solicitation bonds in Texas remain in full force and effect until voided. The principal or the surety can cancel the bond by providing written notice of cancellation to the other party and to the Secretary of State, Statutory Documents Section at least 90 days prior to the effective date of cancellation.
How to become a veterans organization solicitor in Texas
A veterans organization registers by filing a registration statement with the Secretary of State and paying the required $150.00 filing fee. If the veterans organization uses a solicitor, the organization must post a surety bond with the Secretary of State.