Tex. Occ. Code Section 702.153
Requirements for Security Other than Surety Bond

An applicant who posts under Section 702.151 (Security Required) security other than a surety bond is:

(1)

not required to post other security annually if the applicant maintains security in the amount of $20,000; and

(2)

entitled to receive the interest that accumulates on the other security posted.
Acts 1999, 76th Leg., ch. 388, Sec. 1, eff. Sept. 1, 1999.

Source: Section 702.153 — Requirements for Security Other than Surety Bond, https://statutes.­capitol.­texas.­gov/Docs/OC/htm/OC.­702.­htm#702.­153 (accessed Jun. 5, 2024).

702.001
Short Title 702.002
Purpose and Construction 702.003
Definitions 702.051
Administrative and Rulemaking Authority 702.052
Rules Relating to Security Claims and Proceeds 702.053
Registration and Renewal Fees 702.101
Certificate of Registration Required 702.102
Application Requirements 702.103
Certificate of Registration Nontransferable 702.104
Term 702.105
Certificate Posting 702.106
Change of Information 702.107
Sales Tax Permit 702.151
Security Required 702.152
Surety Bond Requirements 702.153
Requirements for Security Other than Surety Bond 702.154
Beneficiary of Security 702.155
Duration of Security 702.156
Notice of Cancellation of Security 702.157
Limit on Liability of Surety or Obligor 702.158
Review of Security Amount 702.201
Application for Exemption 702.202
Qualifications for Exemption 702.205
Issuance of Exemption 702.206
Nontransferability of Exemption 702.207
Denial and Revocation of Exemption 702.251
Filing of Security Claim 702.252
Computation of Claim 702.253
Adjudication on Pro Rata Basis 702.254
Claim Barred 702.301
General Requirements 702.302
Disclosure Requirements 702.303
Contract Term 702.304
Cancellation and Refund Notice 702.305
Prepayment Refund Notice 702.306
Finance Charge Notice 702.307
Cancellation of Contract for Full Refund 702.308
Cancellation of Contract for Partial Refund 702.309
Proof of Payment 702.310
Effect of Contract on Third-party Rights 702.311
Void Contract 702.351
Membership Prepayment 702.352
Escrow Deposit Required 702.353
Exemption from Escrow Requirement 702.354
Duty of Financial Institution 702.355
Refund of Escrowed Prepayment 702.356
Withdrawal of Escrow Funds 702.401
Waiver Prohibited 702.402
Prohibited Acts 702.403
Application of Deceptive Trade Practices Act 702.404
Information Required in Advertisement 702.451
Disciplinary Actions 702.452
Notice Requirement Before Health Spa Closing 702.501
Filing of Suit 702.502
Statute of Limitations 702.503
Recovery 702.504
Temporary Closing 702.551
Investigative and Enforcement Authority 702.552
Suit for Enforcement 702.553
Amount of Civil Penalty 702.554
Violation of Injunction 702.555
Deposit in County Fund 702.556
Criminal Offense: Violation of Chapter 702.557
Criminal Offense: Interference with Investigation 702.558
Criminal Offense: Noncompliance with Subpoena or Investigative Demand
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Accessed:
Jun. 5, 2024

§ 702.153’s source at texas​.gov