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
or any act which would be grounds for revocation of the athlete agent's
registration under Official Code of Georgia Annotated §§ 43-4A-7
(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
Ga. Comp. R. & Regs. R. 54-3-.03
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.