Texas Insurance Code 2205.205 – Performance Bond Authorized
Current as of: 2024 | Check for updates
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Terms Used In Texas Insurance Code 2205.205
- 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 board may require an employee or a person with whom the pool manager contracts under Section 2205.204 to execute a bond in an amount determined by the board. The bond must be payable to the board and conditioned on the faithful performance of the employee’s or other person’s duties to the pool.