Sec. 363.102. FILING OF OFFICER'S BOND. (a) Before assuming the duties of the office, each director or officer, including a person designated under Section 363.101(c), must execute a bond for $5,000 payable to the district, conditioned on the faithful performance of the person's duties as director or officer.
(b) The bond shall be kept in the permanent records of the district.
(c) The board may pay for the bonds of the directors or officers with district funds.
(d) The board and the district may issue or sell bonds conditioned on the faithful performance of a person's duties as a director as provided by this section.
Added by Acts 1997, 75th Leg., ch. 165, Sec. 23.03(a), eff. Sept. 1, 1997.
Section: Previous 363.059 363.060 363.061 363.062 363.063 363.101 363.1015 363.102 363.103 363.104 363.105 363.106 363.151 363.152 363.153 NextLast modified: September 28, 2016