(a) A person receiving a certificate to transact business shall file a bond with the county clerk granting the certificate.
(b) The bond must be:
(1) payable to the State of Texas;
(2) of good and sufficient surety;
(3) conditioned on faithful performance of the applicant’s duty as a public warehouse operator; and
(4) in the amount of $5,000.
Terms Used In Texas Agriculture Code 14A.004
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
(c) A bond is subject to approval by the county clerk and the clerk shall file approved bonds in the clerk’s office.