Texas Insurance Code 2652.103 – Amount of Bond or Deposit
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(a) The amount of the bond or deposit required under this subchapter is determined by multiplying the number of escrow officers employed by the title insurance agent or direct operation by:
(1) $5,000 for an application of an individual who is a bona fide resident of this state; or
(2) $10,000 for an application of an individual who is a bona fide resident of a state adjacent to this state.
(b) Notwithstanding Subsection (a), the maximum amount of the bond or deposit required under this subchapter is $50,000.
Terms Used In Texas Insurance Code 2652.103
- Escrow: Money given to a third party to be held for payment until certain conditions are met.