Tex. Ins. Code § 2651.102

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

Section 2651.102 - Alternative to Bond

(a) Instead of the bond required by Section 2651.101, a title insurance agent or direct operation may deposit with the department:

(1) cash;

(2) irrevocable letters of credit issued by a financial institution in this state that is insured by an agency of the United States; or

(3) securities approved by the department.

(b) The cash, letters of credit, or securities deposited under this section are subject to the conditions required for a bond under Section 2651.101.

Tex. Ins. Code § 2651.102

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. 4/1/2005.