Texas § 116.151 LIABILITIES OF SURETIES ON SEPARATE BONDS.

Texas Statutes

§ 116.151 — LIABILITIES OF SURETIES ON SEPARATE BONDS.

Texas § 116.151

Code LGLocal Government Code

This text of Texas § 116.151 (LIABILITIES OF SURETIES ON SEPARATE BONDS.) 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. Local Government Code Code Ann. § 116.151 (2026).

Text

Sec. 116.151. LIABILITIES OF SURETIES ON SEPARATE BONDS. If a county depository provides separate bonds to secure county funds, each surety under a bond is liable only for that part of a loss resulting from the failure of the depository that bears to the total loss the same ratio as the amount of the bond bears to the total amount of all bonds and securities held by the county for the protection of the funds covered by the bond.

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Sec. 116.151. LIABILITIES OF SURETIES ON SEPARATE BONDS. If a county depository provides separate bonds to secure county funds, each surety under a bond is liable only for that part of a loss resulting from the failure of the depository that bears to the total loss the same ratio as the amount of the bond bears to the total amount of all bonds and securities held by the county for the protection of the funds covered by the bond.