Texas § 842.154 BOND REQUIREMENTS FOR CERTAIN OFFICERS AND EMPLOYEES.

Texas Statutes

§ 842.154 — BOND REQUIREMENTS FOR CERTAIN OFFICERS AND EMPLOYEES.

Texas § 842.154

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This text of Texas § 842.154 (BOND REQUIREMENTS FOR CERTAIN OFFICERS AND EMPLOYEES.) 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. § 842.154 (2026).

Text

Sec. 842.154. BOND REQUIREMENTS FOR CERTAIN OFFICERS AND EMPLOYEES.

(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 corporati

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Sec. 842.154. BOND REQUIREMENTS FOR CERTAIN OFFICERS AND EMPLOYEES. (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.