Texas Transportation Code 441.081 – Officer’S, Employee’S, or Contractor’s Bond
Current as of: 2024 | Check for updates
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(a) The board shall require each officer, employee, or person under contract to the district who collects, pays, or handles district money to furnish a bond.
(b) The bond must be:
(1) payable to the district;
(2) for an amount sufficient to protect the district from financial loss resulting from the person’s actions; and
(3) conditioned on the faithful performance of the person’s duties and on accounting for all district money and other property under the person’s control.
Terms Used In Texas Transportation Code 441.081
- Contract: A legal written agreement that becomes binding when signed.
- 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
- Property: means real and personal property. See Texas Government Code 311.005
(c) The district shall pay for the bond.