Compilation of Rules and Regulations of the State of Georgia
Department 54 - DEPARTMENT OF GEORGIA ATHLETE AGENTS
Chapter 54-3 - APPLICATION PROCEDURES
Rule 54-3-.03 - Surety Bond

Universal Citation: GA Rules and Regs r 54-3-.03

Current through Rules and Regulations filed through December 27, 2023

(1) An applicant for registration shall deposit with the Secretary of State a surety bond in the penal sum of not less than $10,000. At no time during any registration period shall the athlete agent be without the bond. The bond shall be executed in favor of the State with a surety company authorized to do business in Georgia. The bond shall be conditioned to pay a pro rata share of the amount of the bond for damages to each athletic department aggrieved by any act which the agent commits which violates Official Code of Georgia Annotated § 43-4A-16 or any act which would be grounds for revocation of the athlete agent's registration under Official Code of Georgia Annotated §§ 43-4A-7 or 43-4A-8.

(2) If a registered athlete agent fails to maintain a surety bond, the Secretary of State shall suspend the registration until such time as the agent obtains a new bond. An athlete agent shall not carry on business as an athlete agent during such period of suspension.

O.C.G.A. § 43-4A-12.

Original Rule entitled "Surety Bond" adopted. F. Oct. 17, 1989; eff. Nov. 6, 1989.

Amended: F. Jan. 18, 1991; eff. Feb. 7, 1991.

Amended: F. Apr. 21, 2021; eff. May 11, 2021.

Disclaimer: These regulations may not be the most recent version. Georgia may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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