Texas § 407A.057 ADDITIONAL PERFORMANCE BOND REQUIREMENTS.

Texas Statutes

§ 407A.057 — ADDITIONAL PERFORMANCE BOND REQUIREMENTS.

Texas § 407A.057

Code LALabor Code

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Bluebook

Tex. Labor Code Code Ann. § 407A.057 (2026).

Text

Sec. 407A.057. ADDITIONAL PERFORMANCE BOND REQUIREMENTS.

(a)In addition to the requirements under Section 407A.051 , the commissioner may require a service company providing claim services to furnish a performance bond of $250,000 in the form prescribed by the commissioner.

(b)In lieu of a performance bond under Subsection (a), a security deposit of cash or securities acceptable to the commissioner may be deposited with the commissioner to be held in the state treasury. SUBCHAPTER C. TERMINATION OF CERTIFICATE OF APPROVAL

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Sec. 407A.057. ADDITIONAL PERFORMANCE BOND REQUIREMENTS. (a) In addition to the requirements under Section 407A.051 , the commissioner may require a service company providing claim services to furnish a performance bond of $250,000 in the form prescribed by the commissioner.
(b) In lieu of a performance bond under Subsection (a), a security deposit of cash or securities acceptable to the commissioner may be deposited with the commissioner to be held in the state treasury.
SUBCHAPTER C. TERMINATION OF CERTIFICATE OF APPROVAL

Legislative History

Added by Acts 2003, 78th Leg., ch. 275, Sec. 1, eff. Sept. 1, 2003. Amended by: Acts 2005, 79th Leg., Ch. 1055 (H.B. 1353 ), Sec. 3, eff. September 1, 2005.