Sec. 393.405. CLAIM AGAINST SURETY BOND OR ACCOUNT. (a) A person making a claim against a surety bond or account of a credit services organization for a violation of this chapter may file suit against:
(1) the organization; and
(2) the surety or trustee.
(b) A surety or trustee is liable only for actual damages, reasonable attorney's fees, and court costs awarded under Section 393.503(a).
(c) The aggregate liability of a surety or trustee for an organization's violation of this chapter may not exceed the amount of the surety bond or account.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Section: Previous 393.305 393.306 393.307 393.401 393.402 393.403 393.404 393.405 393.406 393.407 393.501 393.502 393.503 393.504 393.505 Next
Last modified: September 28, 2016