Texas Credit Services Organization Bond
Bond Details
Texas Credit Services Organization Bond – $10,000 bond – $100 per year
Overview
A credit services organization (CSO) is required to hold a $10,000 surety bond to register with the Texas Secretary of State. The surety bond must be submitted along with the CSO registration and remains valid for one year with the option for renewal.
Principal: Credit services organization (you)
Obligee: Texas Secretary of State
Surety: NNA Surety
Bond Amount: $10,000
Bond Cost: $100
Bond Term: 1 year
Please note: While the Secretary of State oversees registration and bond filing, it does not regulate CSO business practices or resolve consumer disputes.
Purpose of the Texas CSO Bond
Texas defines a credit service organization as an individual who provides, or represents an individual who can or will provide, consumer credit services. These services include:
- Improving a consumer’s credit history or rating
- Obtaining an extension of consumer credit for a consumer
- Providing advice or assistance to a consumer
As mandated by Section 393.101 of the Texas Finance Code, this bond serves as proof of security, ensuring that CSOs operate in compliance with state regulations while assisting consumers with credit improvement services.
NNA Surety Can Help
Meet the surety bond requirements to operate as a Texas credit services organization with NNA Surety. Complete our form or call us to get bonded today. Free quotes available.