Texas § 886.108 SURETY BOND.

Texas Statutes

§ 886.108 — SURETY BOND.

Texas § 886.108

Code INInsurance Code

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Bluebook

Tex. Insurance Code Code Ann. § 886.108 (2026).

Text

Sec. 886.108. SURETY BOND.

(a)A local mutual aid association's officer responsible for the funds of the association shall file with the department a surety bond.

(b)The surety bond must be:

(1)executed by a surety company authorized to do business in this state;

(2)satisfactory to the department; and

(3)payable in an amount and conditioned as specified by Section 887.054 .

(c)This section does not apply to a local mutual aid association that:

(1)has a total membership of 1,000 or fewer members;

(2)charges $1 or less each for annual dues or assessments; and

(3)charges $2.50 or less for a membership fee.

(d)An association exempted under Subsection (c) shall file with the department a bond in the amount of $1,000 and conditioned as provided by Section 887.054 .

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Sec. 886.108. SURETY BOND. (a) A local mutual aid association's officer responsible for the funds of the association shall file with the department a surety bond.
(b) The surety bond must be:
(1) executed by a surety company authorized to do business in this state;
(2) satisfactory to the department; and
(3) payable in an amount and conditioned as specified by Section 887.054 .
(c) This section does not apply to a local mutual aid association that:
(1) has a total membership of 1,000 or fewer members;
(2) charges $1 or less each for annual dues or assessments; and
(3) charges $2.50 or less for a membership fee.
(d) An association exempted under Subsection (c) shall file with the department a bond in the amount of $1,000 and conditioned as provided by Section 887.054 .