Tex. Gov't Code § 653.004

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 653.004 - Authority to Purchase Bonds

(a) Notwithstanding any other law that authorizes or requires a state officer or employee to obtain a surety bond, a state agency may purchase a surety bond for a state officer or employee only if:

(1) required by the constitution of the state or by federal law or regulation;

(2) required by court order; or

(3) approved by the office.

(b) The office may approve the purchase of a surety bond if:

(1) the office finds that the surety bond is warranted by a substantial or unusual risk of loss; or

(2) the office otherwise determines that the purchase of a surety bond is necessary to protect the interests of the state.

Tex. Gov't. Code § 653.004

Amended By Acts 2001, 77th Leg., ch. 1017, Sec. 1.12, eff. 9/1/2002.

Amended by Acts 1997, 75th Leg., ch. 1423, Sec. 8.42, eff. 9/1/1997

Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. 9/1/1993.