Texas Insurance Code - Section 101.353. Bond Requirement For Court Proceeding
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§ 101.353. BOND REQUIREMENT FOR COURT PROCEEDING. (a)
Except as provided by Subsection (c), before an unauthorized person
or insurer may file a pleading in a court proceeding to which this
subchapter applies, the person or insurer must deposit cash or
securities or file a bond with good and sufficient sureties
approved by the court in an amount determined by the court as
sufficient to pay any final judgment that may be rendered in the
proceeding.
(b) An unauthorized person or insurer must file the deposit
required by this section with the clerk of the court in which the
proceeding is pending.
(c) The court may issue an order waiving the deposit or bond
required by this section if the unauthorized person or insurer
demonstrates to the court's satisfaction that the person or insurer
maintains sufficient available funds or securities in a state in
the United States, in trust or otherwise, to satisfy any final
judgment that may be rendered in the proceeding.
Added by Acts 2001, 77th Leg., ch. 1419, § 29, eff. June 1, 2003.
Section: 101.156 101.201 101.202 101.203 101.301 101.351 101.352 101.353 101.354 101.355 101.356 102.001 102.002 102.051 102.101
Last modified: August 11, 2007
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