 |
Texas Statutes (Last Updated: January 4, 2014) |
 |
EDUCATION CODE |
|
Title 5. OTHER EDUCATION |
|
Chapter 1001. DRIVER AND TRAFFIC SAFETY EDUCATION |
|
Subchapter E. LICENSING OF SCHOOLS AND COURSE PROVIDERS |
Sec. 1001.207. BOND REQUIREMENTS: DRIVER EDUCATION SCHOOL
-
(a) Before a driver education school may be issued a license, the school must file a corporate surety bond with the commissioner in the amount of:
(1) $10,000 for the primary location of the school; and
(2) $5,000 for each branch location.
(b) A bond issued under Subsection (a) must be:
(1) issued in a form approved by the commissioner;
(2) issued by a company authorized to do business in this state;
(3) payable to the state to be used only for payment of a refund due to a student or potential student;
(4) conditioned on the compliance of the school and its officers, agents, and employees with this chapter and rules adopted under this chapter; and
(5) issued for a period corresponding to the term of the license.
(c) Posting of a bond in the amount required under Subsection (a) satisfies the requirements for financial stability for driver education schools under this chapter.