Texas § 8512.0208 SURETY BONDS.

Texas Statutes

§ 8512.0208 — SURETY BONDS.

Texas § 8512.0208

Code SDSpecial District Local Laws Code

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Bluebook

Tex. Special District Local Laws Code Code Ann. § 8512.0208 (2026).

Text

Text of section effective on April 01, 2027 Sec. 8512.0208. SURETY BONDS.

(a)The general manager, the treasurer, and any other authority officer, agent, or employee who is charged with the collection, custody, or payment of authority money shall give bond conditioned on:

(1)the faithful performance of the person's duties; and

(2)an accounting for all authority money and property coming into the person's possession.

(b)The bond must be in a form and amount and with a surety company approved by the board that is authorized to do business in this state.

(c)The authority shall pay the premium on the bond and charge the premium as an operating expense.

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Text of section effective on April 01, 2027
Sec. 8512.0208. SURETY BONDS. (a) The general manager, the treasurer, and any other authority officer, agent, or employee who is charged with the collection, custody, or payment of authority money shall give bond conditioned on:
(1) the faithful performance of the person's duties; and
(2) an accounting for all authority money and property coming into the person's possession.
(b) The bond must be in a form and amount and with a surety company approved by the board that is authorized to do business in this state.
(c) The authority shall pay the premium on the bond and charge the premium as an operating expense.