Texas Finance Code 393.404 – Beneficiary of Surety Bond or Account
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Terms Used In Texas Finance Code 393.404
- 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
The surety bond or account of a credit services organization must be in favor of:
(1) this state for the benefit of a person damaged by a violation of this chapter; and
(2) a person damaged by a violation of this chapter.