Texas § 3503.051 DEFINITIONS.

Texas Statutes

§ 3503.051 — DEFINITIONS.

Texas § 3503.051

Code INInsurance Code

This text of Texas § 3503.051 (DEFINITIONS.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Insurance Code Code Ann. § 3503.051 (2026).

Text

Sec. 3503.051. DEFINITIONS. In this subchapter:

(1)"Claimant" means a person directly entitled to payment under a construction payment bond.

(2)"Construction payment bond" means a surety agreement or obligation issued to guarantee or assure payment by a principal obligor for work performed or materials supplied or specially fabricated for a public or private construction project.

(3)"Notice of claim" means a written notification by a claimant who makes a claim for payment from the surety company. The term does not include a routine statutory notice required by Section 53.056 or 53.057 , Property Code, or Section 2253.047 , Government Code.

(4)"Surety company" means an authorized surety or guaranty company that executes and delivers a construction payment bond as a surety for a principa

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Sec. 3503.051. DEFINITIONS. In this subchapter:
(1) "Claimant" means a person directly entitled to payment under a construction payment bond.
(2) "Construction payment bond" means a surety agreement or obligation issued to guarantee or assure payment by a principal obligor for work performed or materials supplied or specially fabricated for a public or private construction project.
(3) "Notice of claim" means a written notification by a claimant who makes a claim for payment from the surety company. The term does not include a routine statutory notice required by Section 53.056 or 53.057 , Property Code, or Section 2253.047 , Government Code.
(4) "Surety company" means an authorized surety or guaranty company that executes and delivers a construction payment bond as a surety for a principal obligor.

Legislative History

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017 ), Sec. 3, eff. April 1, 2007. Amended by: Acts 2021, 87th Leg., R.S., Ch. 690 (H.B. 2237 ), Sec. 1, eff. January 1, 2022.