Texas § 2652.102 ALTERNATIVE TO BOND.

Texas Statutes

§ 2652.102 — ALTERNATIVE TO BOND.

Texas § 2652.102

Code INInsurance Code

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Bluebook

Tex. Insurance Code Code Ann. § 2652.102 (2026).

Text

Sec. 2652.102. ALTERNATIVE TO BOND.

(a)Instead of the bond required by Section 2652.101 , a title insurance agent or direct operation may deposit with the department:

(1)cash;

(2)irrevocable letters of credit issued by a financial institution insured by an agency of the United States; or

(3)securities approved by the department.

(b)The cash, letters of credit, or securities deposited under this section are subject to the conditions required for a bond under Section 2652.101 .

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Sec. 2652.102. ALTERNATIVE TO BOND. (a) Instead of the bond required by Section 2652.101 , a title insurance agent or direct operation may deposit with the department:
(1) cash;
(2) irrevocable letters of credit issued by a financial institution insured by an agency of the United States; or
(3) securities approved by the department.
(b) The cash, letters of credit, or securities deposited under this section are subject to the conditions required for a bond under Section 2652.101 .