Tex. Ins. Code Section 2652.102
Alternative to Bond

(a)

Instead of the bond required by Section 2652.101 (Bond Required), 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 (Bond Required).
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 6, eff. April 1, 2005.

Source: Section 2652.102 — Alternative to Bond, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­2652.­htm#2652.­102 (accessed May 4, 2024).

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Accessed:
May 4, 2024

§ 2652.102’s source at texas​.gov