Tex. Bus. & Com. Code § 52.053 · Subchapter B. FINANCIAL REQUIREMENTS OF INVENTION DEVELOPERS
CASH DEPOSIT INSTEAD OF BOND.
Text — Current through the 89th 2nd Called Legislative Session, 2025
Instead of furnishing the bond required by Section 52.051, the invention developer may provide for, in an amount equal to the amount of the bond required:
(1) cash deposited with the secretary of state;
(2) a certificate of deposit payable to the secretary of state and issued by a bank that is:
(A) transacting business in this state; and
(B) insured by the Federal Deposit Insurance Corporation;
(3) an investment certificate of a share account assigned to the secretary of state and issued by a savings and loan association that is:
(A) transacting business in this state; and
(B) insured by the Federal Deposit Insurance Corporation; or
(4) a bearer bond issued by the United States government or this state.
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 0fcccf75e7941b0d4e0a7e724bc98b37f76376ad2a837548ec0661093072de37
- 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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