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Texas Statutes (Last Updated: January 4, 2014) |
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TRANSPORTATION CODE |
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Title 7. VEHICLES AND TRAFFIC |
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Subtitle F. COMMERCIAL MOTOR VEHICLES |
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Chapter 646. MOTOR TRANSPORTATION BROKERS |
Sec. 646.003. BOND REQUIRED
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(a) A person may not act as a motor transportation broker unless the person provides a bond to the Texas Department of Motor Vehicles.
(b) The bond must be in an amount of at least $10,000 and must be:
(1) executed by a bonding company authorized to do business in this state;
(2) payable to this state or a person to whom the motor transportation broker provides services; and
(3) conditioned on the performance of the contract for transportation services between the broker and the person for whom services are provided.
(c) The department may charge the broker a bond review fee in an amount not to exceed the cost of reviewing the bond.
(d) The department may adopt rules regarding the method of payment of a fee under this chapter. The rules may:
(1) authorize the use of electronic funds transfer or a credit card issued by a financial institution chartered by a state or the United States or by a nationally recognized credit organization approved by the department; and
(2) require the payment of a discount or service charge for a credit card payment in addition to the fee.