Texas Transportation Code 601.163 – Form of Security
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(a) The security required under this subchapter shall be made:
(1) by cash deposit;
(2) through a bond that complies with § 601.168; or
(3) in another form as required by the department.
(b) A person depositing security shall specify in writing the person on whose behalf the deposit is made. A single deposit of security is applicable only on behalf of persons required to provide security because of the same collision and the same motor vehicle.
Terms Used In Texas Transportation Code 601.163
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
- in writing: includes any representation of words, letters, or figures, whether by writing, printing, or other means. See Texas Government Code 312.011
- 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) The person depositing the security may amend in writing the specification of the person on whose behalf the deposit is made to include an additional person. This amendment may be made at any time the deposit is in the custody of the department or the comptroller.