Texas § 702.157 LIMIT ON LIABILITY OF SURETY OR OBLIGOR.

Texas Statutes

§ 702.157 — LIMIT ON LIABILITY OF SURETY OR OBLIGOR.

Texas § 702.157

Code OCOccupations Code

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Bluebook

Tex. Occupations Code Code Ann. § 702.157 (2026).

Text

Sec. 702.157. LIMIT ON LIABILITY OF SURETY OR OBLIGOR.

(a)The limit of a surety's or obligor's liability stated in the security filed or posted under this subchapter may not be cumulative from year to year or period to period, regardless of the number of:

(1)years that the security continues in force; or

(2)premiums paid or payable.

(b)The liability of a surety or obligor is exclusively conditioned on a final administrative order issued by the secretary of state.

(c)Security filed or posted under this subchapter is subject to a claim only as provided by this subchapter.

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Sec. 702.157. LIMIT ON LIABILITY OF SURETY OR OBLIGOR. (a) The limit of a surety's or obligor's liability stated in the security filed or posted under this subchapter may not be cumulative from year to year or period to period, regardless of the number of:
(1) years that the security continues in force; or
(2) premiums paid or payable.
(b) The liability of a surety or obligor is exclusively conditioned on a final administrative order issued by the secretary of state.
(c) Security filed or posted under this subchapter is subject to a claim only as provided by this subchapter.