Section 25.07*2. Bond

The  commissioner  shall require the applicant for a
  license to file with the application therefor a bond in due form to  the
  people  of  the political subdivision in which such license is issued in
  the penal sum of one thousand  dollars,  with  two  or  more  sufficient
  sureties  or  a  duly  authorized  surety  company,  which bond shall be
  approved by such commissioner. Each such bond shall be conditioned  that
  the  obligor  will  not  be  guilty  of any fraud or extortion, will not
  violate directly or indirectly any of the provisions of this article  or
  any of the provisions of the license or certificate provided for in this
  article,  will  comply  with the provisions of this article and will pay
  all damages occasioned to any person  by  reason  of  any  misstatement,
  misrepresentation,  fraud  or  deceit or any unlawful act or omission of
  such obligor, his agents or employees, while acting within the scope  of
  their  employment,  made,  committed  or  omitted in connection with the
  provisions of this article in the business conducted under such  license
  or  caused  by  any  other  violation of this article in carrying on the
  business for which such license is granted. Such commissioner shall keep
  books wherein shall  be  entered  in  alphabetical  order  all  licenses
  granted  and  all bonds received by him as provided for in this article,
  the date of the issuance of such license and the filing of  such  bonds,
  which  record  shall  be open to public inspection. A suit to recover on
  the bond required to be filed by the provisions of this article  may  be
  brought  in the name of the person damaged, upon the bond deposited with
  the political subdivision  by  such  licensed  person,  in  a  court  of
  competent  jurisdiction.  The amount of damages claimed by the plaintiff
  and not the penalty named in the bond shall determine  the  jurisdiction
  of  the  court in which the action is brought. One or more recoveries or

  payments upon such bond shall not vitiate the same but such  bond  shall
  remain  in  full force and effect, provided, however, that the aggregate
  amount of all such recoveries or payments shall not exceed the penal sum
  thereof.  Upon  the  commencement  of  any action or actions against the
  surety upon any such bond for a sum or sums aggregating or exceeding the
  amount of such bond the commissioner shall require a new and  additional
  bond  in  like amount as the original one, which shall be filed with the
  commissioner within thirty days after the demand  therefor.  Failure  to
  file  such  bond  within  such  period  shall  constitute  cause for the
  revocation of the license theretofore issued to the licensee  upon  whom
  such  demand shall have been made. Any suit or action against the surety
  on any bond  required  by  the  provisions  of  this  section  shall  be
  commenced within one year after the cause of action shall have accrued.
    * NB Effective May 16, 2010