Texas Labor Code - Section 407A.057. Additional Performance Bond Requirements
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§ 407A.057. ADDITIONAL PERFORMANCE BOND
REQUIREMENTS. (a) In addition to the requirements under Section
407A.051, the commissioner may require a service company providing
claim services to furnish a performance bond of $250,000 in the form
prescribed by the commissioner.
(b) In lieu of a performance bond under Subsection (a), a
security deposit of cash or securities acceptable to the
commissioner may be deposited with the commissioner to be held in
the state treasury.
Added by Acts 2003, 78th Leg., ch. 275, § 1, eff. Sept. 1, 2003.
Amended by Acts 2005, 79th Leg., ch. 1055, § 3, eff. Sept. 1,
2005.
Section: 407A.008 407A.051 407A.052 407A.053 407A.054 407A.055 407A.056 407A.057 407A.101 407A.151 407A.152 407A.153 407A.154 407A.201 407A.251
Last modified: August 10, 2007
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