Sec. 646.003. BOND REQUIRED. (a) A person may not act as a motor transportation broker unless the person provides a bond to the department.
(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. The department shall deposit a fee collected under this subsection to the credit of the Texas Department of Motor Vehicles fund.
(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.
Added by Acts 1997, 75th Leg., ch. 165, Sec. 30.153(a), eff. Sept. 1, 1997.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 933 (H.B. 3097), Sec. 2N.01, eff. September 1, 2009.
Acts 2013, 83rd Leg., R.S., Ch. 1287 (H.B. 2202), Sec. 65, eff. September 1, 2013.