There is a newer version
of
this Section
2021 Texas Statutes
Insurance Code
Title 11 - Title Insurance
Subtitle D - Title Insurance Professionals
Chapter 2652 - Escrow Officers
Subchapter C. Bond and Deposit Requirements
Section 2652.102. Alternative to Bond
Universal Citation: TX Ins Code § 2652.102 (2021)
Sec. 2652.102. ALTERNATIVE TO BOND. (a) Instead of the bond required by Section 2652.101, a title insurance agent or direct operation may deposit with the department:
(1) cash;
(2) irrevocable letters of credit issued by a financial institution 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 2652.101.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.
Disclaimer: These codes may not be the most recent version. Texas may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
