(a) The commission by rule may require an applicant for a permit to file with the commission a surety bond or other security in a reasonable amount.
(b) The bond or other security must be payable to the commission to reimburse the commission for the cost of removing a sign unlawfully erected or maintained by a permit holder.
(c) A rule adopted under Subsection (a) must exempt an applicant from filing a bond or other security if the applicant has:
(1) held at least five permits under this chapter for at least one year; and
(2) not violated this chapter or a rule adopted under this chapter during the preceding 12 months.