Tex. Bus. & Com. Code § 52.052 · Subchapter B. FINANCIAL REQUIREMENTS OF INVENTION DEVELOPERS
BENEFICIARY OF BOND; CLAIM AGAINST BOND.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The bond required by Section 52.051 must be:
(1) in favor of this state; and
(2) for the benefit of any person who, after entering into a contract for invention development services with the invention developer, is damaged by fraud, dishonesty, or failure to provide the invention developer's services in performance of the contract.
(b) A person making a claim against the bond may bring an action against the invention developer and the surety. The aggregate liability of the surety to all persons for all breaches of conditions of the bond required by this section is limited to the amount of the bond.
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.52.htm
- Text hash
- sha256 4ffb47edbbe062a46f78855e8876307dd08848ab5fa190e5a92a9127a95c606e
- 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
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