Texas Insurance Code § 3503.003 Designation Of Agent By Corporate Surety Required

Sec. 3503.003. DESIGNATION OF AGENT BY CORPORATE SURETY REQUIRED. Notwithstanding Section 3503.002, in specifications by a municipality for work or supplies for which sealed bids are required, the municipality may require that a corporate surety tender designate, in a manner satisfactory to the municipality, an agent:

(1) who is a resident of the county in which the municipality is located; and

(2) to whom any required notices may be delivered and on whom process may be served in matters arising out of the suretyship.

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 3, eff. April 1, 2007.

Section: Previous  3503.001  3503.002  3503.003  3503.004  3503.005  3503.051  3503.052  3503.053  3503.054  3503.055  3503.056  3503.057  3503.101  3503.151  3503.152  Next

Last modified: September 28, 2016