Tex. Ins. Code § 842.154 · Subchapter D. BOARD OF DIRECTORS; PERSONNEL
BOND REQUIREMENTS FOR CERTAIN OFFICERS AND EMPLOYEES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Each group hospital service corporation shall post a bond for the officer or employee responsible for the handling of the corporation's money. The bond must be:
(1) issued by a surety company licensed by the department to do business in this state; and
(2) at all times in an amount at least equal to $25,000.
(b) In addition to the bond required under Subsection (a), the corporation shall post a separate bond or a blanket bond for all employees who have access to the money of the corporation. The bond must be in a reasonable amount set by the commissioner in the amount of at least $500, not to exceed $10,000.
(c) A bond required by this section must be payable to the commissioner for the use and benefit of the corporation.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.842.htm
- Text hash
- sha256 8a2bfed0d588ef4bfce88544671d70fe1365727dbb7740a41011a8b0d08279ac
- 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.