Texas § 1201.109 SECURITY: CANCELLATION OR OTHER IMPAIRMENT.

Texas Statutes

§ 1201.109 — SECURITY: CANCELLATION OR OTHER IMPAIRMENT.

Texas § 1201.109

Code OCOccupations Code

This text of Texas § 1201.109 (SECURITY: CANCELLATION OR OTHER IMPAIRMENT.) 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. Occupations Code Code Ann. § 1201.109 (2026).

Text

Sec. 1201.109. SECURITY: CANCELLATION OR OTHER IMPAIRMENT.

(a)If a bond required by this subchapter is canceled, the license for which the security is filed is suspended on the effective date of cancellation. The surety shall provide written notice to the director before the 60th day preceding the effective date of cancellation.

(b)If a surety files for liquidation or reorganization in bankruptcy or is placed in receivership, the license holder shall obtain other security not later than the 60th day after the date that notice of the filing or receivership is received.

(c)If the required face amount of a security is impaired by the payment of a claim, the license holder shall restore the security to the required face amount not later than the 60th day after the date of impairment.

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Sec. 1201.109. SECURITY: CANCELLATION OR OTHER IMPAIRMENT. (a) If a bond required by this subchapter is canceled, the license for which the security is filed is suspended on the effective date of cancellation. The surety shall provide written notice to the director before the 60th day preceding the effective date of cancellation.
(b) If a surety files for liquidation or reorganization in bankruptcy or is placed in receivership, the license holder shall obtain other security not later than the 60th day after the date that notice of the filing or receivership is received.
(c) If the required face amount of a security is impaired by the payment of a claim, the license holder shall restore the security to the required face amount not later than the 60th day after the date of impairment.