(a) Before a driver education provider may be issued a license, the provider must file a corporate surety bond with the department in the amount of:
(1) $10,000; and
(2) for an in-person driver education provider, $5,000 for each branch location of the provider.
(b) A bond issued under Subsection (a) must be:
(1) issued in a form approved by the department;
(2) issued by a company authorized to do business in this state;
(3) payable to the department to be used only for payment of a refund due to a student or potential student;
(4) conditioned on the compliance of the provider and its officers, agents, and employees with this chapter and rules adopted under this chapter; and
(5) issued for a period corresponding to the term of the license.

(c) Posting of a bond in the amount required under Subsection (a) satisfies the requirements for financial stability for driver education providers under this chapter.
(d) A driver education provider who files a bond under Subsection (a)(1) or provides an alternate form of security under § 1001.210 to obtain one type of driver education provider license may not be required to file an additional bond under Subsection (a)(1) or provide an alternate form of security under § 1001.210 for any other type of driver education provider license.