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Texas Insurance Code - Section 442.053. Performance Bond Required

Legal Research Home > Texas Lawyer > Insurance Code > Texas Insurance Code - Section 442.053. Performance Bond Required

§ 442.053. PERFORMANCE BOND REQUIRED.  A special deputy 
receiver must file with the commissioner a bond that is:
		(1)  in an amount established by the commissioner;                            
		(2)  payable to the commissioner for the benefit of 
injured parties;  and   
		(3)  conditioned on:                                                          
			(A)  the faithful performance of the special 
deputy receiver's duties;  and
			(B)  the proper accounting for all money and 
property received or administered by the special deputy receiver.

Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.           

Last modified: August 11, 2007