Texas Credit Services Organization Bond

Credit services provider bond cost

The Texas Secretary of State requires credit services organizations to post $10,000 surety bonds.These bonds require underwriting consideration, so the price you’ll pay is based on a review of your personal credit report. Applicants with strong financial credentials could pay as low as 1% of the bond amount, or just $100.

Why this bond

By posting a credit services organization bond in Texas, principals (credit services organizations) pledge to perform all obligations duties and responsibilities under chapter 393, Finance Code.

If the principal conducts unlawful business, the bond protects harmed parties from financial loss up to the full amount of the bond.

Credit services organization bond details

Credit services organization bonds in Texas are continuous until canceled. To cancel the bond, the surety must give the secretary of state written notice of cancellation at least 60 days prior to the effective cancellation date.The address of the principal (credit services organization) must be listed on the surety bond form.

Become a credit services organization

To become registered as a credit services organization in Texas, applicants must submit the following to the secretary of state:

• completed registration application
• proof of security or a statement explaining why proof of security is not required
• registration fee

Each registration is effective for one year and can be renewed.

Apply for your surety bond

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