Section 2206.204 - Performance Bond Required(a) Each board member and each board employee who has authority over money in the fund or money collected or invested by the pool shall execute a bond in an amount determined by the board. The bond must be payable to the pool and conditioned on the faithful performance of the person's duties.(b) The pool shall pay the cost of a bond executed under Subsection (a).Tex. Ins. Code § 2206.204
Added by Acts 2005, 79th Leg., Ch. 727, Sec. 2, eff. 4/1/2007.