(a) An applicant for a promoter’s license under this chapter must apply on a form furnished by the executive director.
(b) An application must be accompanied by:
(1) a license fee in an amount set by the commission; and
(2) a surety bond:
(A) subject to approval by the executive director; and
(B) conditioned on the applicant’s payment of the tax imposed under Section 2052.151.

(c) The executive director shall establish the amount of the surety bond required under Subsection (b). The bond amount may not be less than $300.