HEALTH SPA SURETY BOND PURSUANT TO THE HEALTH SPA ACT CHAPTER 702, TEXAS OCCUPATIONS CODE BOND NUMBER: ____________________
KNOWN ALL PERSONS BY THESE PRESENTS: THAT, we ______________________________________________________________, as Principal, whose address is __________________________________________________
SureTec Insurance Company ___________________________________ and ____________________________________
___________________________________ as Surety, and being a surety company authorized to do business in the State of Texas, in the sum of TWENTY THOUSAND DOLLARS ($20,000), lawful money of the United States of America payable to the State at Austin, Travis County, Texas in favor of the state and shall be held for the benefit of any members of the health spa located at ______________________________________________________________ who suffer financial losses due to the insolvency or cessation of operation of the health spa at the above location, we, and each of us, bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally firmly by these presents. "Financial losses" shall mean and be limited to any unused or unearned portion of such member's dues or fees. Such a member may bring an action based on the bond and recover against the bond, but the liability of the surety may not exceed the aggregate amount of the bond. If the claims filed against the bond exceed the amount of the bond, the surety shall pay the amount of the bond to the secretary for distribution to the claimants on a pro rata basis. The surety is relieved of liability under the bond on payment of the amount to the secretary of state. NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION is such that the PRINCIPAL shall faithfully discharge all obligations, duties and responsibilities under the Health Spa Act, Texas Occupations Code, Chapter 702, as that statute is presently worded, and as it may hereafter be amended to read; and all applicable rules and regulations of the Office of the Secretary of State adopted to carry out the provisions of said Act; then this obligation to be void, OTHERWISE, to remain in full force and effect; subject, however, to the following terms and conditions: 1. It is agreed that as of __________________________, __________, the bond shall be in full force and effect and remain in effect until cancelled by the Surety in accordance with condition 5. 2. This bond is valid when received by the Secretary of State.
3. Regardless of the number of years the bond shall continue in force or the number of premiums payable or paid, the limit of the surety's liability stated in the bond shall not be cumulative from year to year or period to period.
4. The surety shall not be liable through a bond for punitive damages or for civil or criminal penalties assessed against a health spa, its individual owners, or its employees. 5. The bond written by a surety hereunder shall be continuous until cancelled by the surety company or terminated by the health spa only upon giving 60 days prior notice to the secretary of such cancellation. 6. The bond must be maintained until two years after the date on which the health spa ceases business or until the secretary of state determines that each claim to which the bond is subject has been satisfied or foreclosed by law. 7. A surety hereunder shall not be liable for any claim brought or suit filed against a bond if the claim or filing of a suit occurs more than two years from the last effective date of the bond. IN WITNESS WHEREOF said PRINCIPAL and SURETY have executed this bond this _______________ day of _____________________________, ____________, to be effective on the __________ day of _____________, ___________.
SURETY BY: _________________________________________ (Signature) _________________________________________ (Printed Name)
Attorney in Fact Title: ___________________________________________
Address: ____________________________________________ ____________________________________________
PRINCIPAL: _________________________________________ (Signature) __________________________________________ (Printed Name)
SureTec Insurance Company
THIS BOND RIDER CONTAINS IMPORTANT COVERAGE INFORMATION
Statutory Complaint Notice To obtain information or make a complaint: You may call the Surety’s toll free telephone number for information or to make a complaint at: 1-866-732-0099. You may also write to the Surety at: SureTec Insurance Company 9737 Great Hills Trail, Suite 320 Austin, TX 78759 You may contact the Texas Department of Insurance to obtain information on companies, coverage, rights or complaints at 1-800-252-3439. You may write the Texas Department of Insurance at PO Box 149104 Austin, TX 78714-9104 Fax#: 512-475-1771 PREMIUM OR CLAIM DISPUTES: Should you have a dispute concerning your premium or about a claim, you should contact the Surety first. If the dispute is not resolved, you may contact the Texas Department of Insurance. ---------------------------------------------------------------------------------------------------------------------------Terrorism Risks Exclusion The Bond to which this Rider is attached does not provide coverage for, and the surety shall not be liable for, losses caused by acts of terrorism, riot, civil insurrection, or acts of war.
-----------------------------------------------------------------------------------------------------------------Exclusion of Liability for Mold, Mycotoxins, Fungi & Environmental Hazards The Bond to which this Rider is attached does not provide coverage for, and the surety thereon shall not be liable for, molds, living or dead fungi, bacteria, allergens, histamines, spores, hyphae, or mycotoxins, or their related products or parts, nor for any environmental hazards, bio-hazards, hazardous materials, environmental spills, contamination, or cleanup, nor the remediation thereof, nor the consequences to persons, property, or the performance of the bonded obligations, of the occurrence, existence, or appearance thereof.
Texas Rider 010106
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