Tex. Bus. & Com. Code § 51.102 · Subchapter C. BOND, TRUST ACCOUNT, OR LETTER OF CREDIT
ACTION AGAINST BOND, TRUST ACCOUNT, OR LETTER OF CREDIT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A person may bring an action against the bond, trust account, or irrevocable letter of credit obtained or established under Section 51.101 to recover actual damages for:
(1) a violation of this chapter; or
(2) the seller's breach of:
(A) the business opportunity contract; or
(B) an obligation arising from a business opportunity sale.
(b) The aggregate liability of the surety, trustee, or issuer in an action under Subsection (a) may not exceed the amount of the bond, trust account, or irrevocable letter of credit.
Notes and commentary — not statutory text
History
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/BC/htm/BC.51.htm
- Text hash
- sha256 c7d0195fe2471fc2acabdcce4374dd02fe65cf4c004bbafa88805a5fd2a54ca0
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.