Tex. Spec. Dist. Local Laws Code § 8506.057 · Subchapter B. BOARD OF DIRECTORS; ADMINISTRATIVE PROVISIONS
SURETY BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The presiding officer, the treasurer, and any other officer, agent, or employee of the authority who is charged with the collection, custody, or payment of authority money shall give bond conditioned on:
(1) the faithful performance of the person's duties; and
(2) an accounting for all money and property of the authority coming into the person's possession.
(b) The bond must be in a form and amount and with a surety approved by the board, and the surety on the bond must be a surety company authorized to do business in this state.
(c) The authority shall pay the premium on the bond and charge the premium as an operating expense.
(d) The bond must be payable to the board for the use and benefit of the authority.
Notes and commentary — not statutory text
History
Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.05, eff. April 1, 2017.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.8506.htm
- Text hash
- sha256 5ab22f2d424e4ded5e80ec00b883f5420516256bc973aa4ea697c5a3d8d07b97
- 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.