Tex. Fin. Code § 342.102 · Subchapter C. APPLICATION FOR AND ISSUANCE OF LICENSE
BOND.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) If the commissioner requires, an applicant for a license under this chapter shall file with the application a bond that is:
(1) in an amount not to exceed the total of:
(A) $50,000 for the first license; and
(B) $10,000 for each additional license;
(2) satisfactory to the commissioner; and
(3) issued by a surety company qualified to do business as a surety in this state.
(b) The bond must be in favor of this state for the use of this state and the use of a person who has a cause of action under this chapter against the license holder.
(c) The bond must be conditioned on:
(1) the license holder's faithful performance under this chapter and rules adopted under this chapter; and
(2) the payment of all amounts that become due to the state or another person under this chapter during the period for which the bond is given.
(d) The aggregate liability of a surety to all persons damaged by the license holder's violation of this chapter may not exceed the amount of the bond.
Notes and commentary — not statutory text
History
Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999; Acts 1999, 76th Leg., ch. 909, Sec. 2.08, eff. Sept. 1, 1999.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 19, eff. September 1, 2019.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.342.htm
- Text hash
- sha256 6a95dcedae3cef0acec1ebeffed8b5c390c31b07f120e17e4ba2cf243ba9b5b3
- 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
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.