Tex. Occ. Code § 1101.302

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

Section 1101.302 - Bond Required

(a) In this section, "educational institution" means a school, excluding an accredited college or university, authorized by the commission under this chapter to offer a real estate or real estate inspection educational program or course of study.

(b) An educational institution shall maintain a corporate surety bond or other security acceptable to the commission that is:

(1) in the amount of $20,000;

(2) payable to the commission; and

(3) for the benefit of a party who suffers damages caused by the failure of the institution to fulfill obligations related to the commission's approval.

Tex. Occ. Code § 1101.302

Amended By Acts 2007, 80th Leg., R.S., Ch. 297, Sec. 4, eff. 9/1/2007.

Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. 6/1/2003.