Tex. Occ. Code § 1201.105 · Subchapter C. LICENSING
SECURITY REQUIRED.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The department may not issue or renew a license unless a bond or other security in a form prescribed by the director is filed with the department as provided by this subchapter. The bond or other security is payable to the manufactured homeowner consumer claims program.
(b) If a bond is filed, the bond must be issued by a company authorized to do business in this state and must conform to applicable provisions of the Insurance Code. If other security is filed, that security must be maintained in or by a federally insured depository institution located in this state.
(c) If the department experiences significant problems in obtaining timely reimbursements from a surety or the surety has experienced a deterioration in its financial condition, the board may direct the director to stop accepting bonds issued by the surety.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 863 (H.B. 1460), Sec. 10, eff. January 1, 2008.
Acts 2017, 85th Leg., R.S., Ch. 408 (H.B. 2019), Sec. 8, eff. September 1, 2017.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/OC/htm/OC.1201.htm
- Text hash
- sha256 853d0d71aba0efa86d367bf96fe1a49eabbb0eaab09d0ce12b7d2ca64a0e1d4c
- 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
Cited by 1 provision
Provisions in this library whose text cites Tex. Occ. Code § 1201.105. Each shows the citation as that text prints it.
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.