Tex. Transp. Code Section 601.121
Surety Bond

(a)

A person may establish financial responsibility by filing with the department a bond:

(1)

with at least two individual sureties, each of whom owns real property in this state that is not exempt from execution under the constitution or laws of this state;

(2)

conditioned for payment in the amounts and under the same circumstances as required under a motor vehicle liability insurance policy;

(3)

that is not cancelable before the sixth day after the date the department receives written notice of the cancellation;

(4)

accompanied by the fee required by Subsection (e); and

(5)

approved by the department.

(b)

The real property required by Subsection (a)(1) must be described in the bond approved by a judge of a court of record. The assessor-collector of the county in which the property is located must certify the property as free of any tax lien. The sureties in combination must have equity in the property in an amount equal to at least twice the amount of the bond.

(c)

The bond is a lien in favor of the state on the real property described in the bond. The lien exists in favor of a person who holds a final judgment against the person who filed the bond.

(d)

On filing of a bond, the department shall issue to the person who filed the bond a certificate of compliance with this section.

(e)

The department shall file notice of the bond in the office of the county clerk of the county in which the real property is located. The notice must include a description of the property described in the bond. The county clerk or the county clerk’s deputy, on receipt of the notice, shall acknowledge the notice and record it in the lien records. The recording of the notice is notice in accordance with statutes governing the recordation of a lien on real property.

(f)

If a judgment rendered against the person who files a bond under this section is not satisfied before the 61st day after the date the judgment becomes final, the judgment creditor, for the judgment creditor’s own use and benefit and at the judgment creditor’s expense, may bring an action in the name of the state against the sureties on the bond, including an action to foreclose a lien on the real property of a surety. The foreclosure action must be brought in the same manner as, and is subject to the law applicable to, an action to foreclose a mortgage on real property.

(g)

Cancellation of a bond filed under this section does not prevent recovery for a right or cause of action arising before the date of the cancellation.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.

Source: Section 601.121 — Surety Bond, https://statutes.­capitol.­texas.­gov/Docs/TN/htm/TN.­601.­htm#601.­121 (accessed Jun. 5, 2024).

601.001
Short Title 601.002
Definitions 601.003
Judgment 601.005
Evidence in Civil Suit 601.006
Applicability to Certain Owners and Operators 601.007
Applicability of Chapter to Government Vehicles 601.008
Violation of Chapter 601.009
Report from Other State or Canada 601.021
Department Powers and Duties 601.023
Payment of Statutory Fees 601.051
Requirement of Financial Responsibility 601.052
Exceptions to Financial Responsibility Requirement 601.053
Evidence of Financial Responsibility 601.054
Owner May Provide Evidence of Financial Responsibility for Others 601.055
Substitution of Evidence of Financial Responsibility 601.056
Cancellation, Return, or Waiver of Evidence of Financial Responsibility 601.057
Evidence that Does Not Fulfill Requirements 601.071
Motor Vehicle Liability Insurance 601.072
Minimum Coverage Amounts 601.073
Required Policy Terms 601.074
Optional Terms 601.075
Prohibited Terms 601.076
Required Terms: Owner’s Policy 601.077
Required Terms: Operator’s Policy 601.078
Additional Coverage 601.079
Multiple Policies 601.080
Insurance Binder 601.081
Standard Proof of Motor Vehicle Liability Insurance Form 601.082
Motor Vehicle Liability Insurance 601.083
Certificate of Motor Vehicle Liability Insurance 601.084
Nonresident Certificate 601.085
Termination of Certified Policy 601.086
Response of Insurance Company if Policy Not in Effect 601.088
Effect on Certain Other Policies 601.121
Surety Bond 601.122
Deposit of Cash or Securities with Comptroller 601.123
Deposit of Cash or Cashier’s Check with County Judge 601.124
Self-insurance 601.151
Applicability of Subchapter 601.152
Suspension of Driver’s License and Vehicle Registration or Privilege 601.153
Deposit of Security 601.154
Department Determination of Probability of Liability 601.155
Notice of Determination 601.156
Setting of Hearing 601.157
Hearing Procedures 601.158
Appeal 601.159
Procedures for Suspension of Driver’s License and Vehicle Registration or Privilege 601.160
Suspension Stayed Pending Hearing or Appeal 601.161
Notice of Suspension 601.162
Duration of Suspension 601.163
Form of Security 601.164
Reduction in Security 601.165
Custody of Cash Security 601.166
Payment of Cash Security 601.167
Return of Cash Security 601.168
Insurance Policy or Bond 601.169
Reasonable Probability Not Admissible in Civil Suit 601.170
Department Acting on Erroneous Information 601.191
Operation of Motor Vehicle in Violation of Motor Vehicle Liability Insurance Requirement 601.193
Defense: Financial Responsibility in Effect at Time of Alleged Offense 601.194
Defense: Possession of Motor Vehicle for Maintenance or Repair 601.195
Operation of Motor Vehicle in Violation of Requirement to Establish Financial Responsibility 601.231
Suspension of Driver’s License 601.232
Notice of Suspension 601.233
Notice of Potential Suspension 601.234
Issuance or Continuation of Vehicle Registration 601.261
Impoundment of Motor Vehicle 601.262
Duration of Impoundment 601.263
Reimbursement Fee for Impoundment 601.264
Penalties Cumulative 601.265
Transfer of Title of Impounded Motor Vehicle 601.266
Release on Involuntary Transfer of Title of Impounded Motor Vehicle 601.267
Release of Impounded Motor Vehicle by Sheriff 601.291
Applicability of Subchapter 601.292
Duty to Provide Evidence of Financial Responsibility to Investigating Officer 601.293
Failure to Provide Evidence of Financial Responsibility 601.294
Impoundment of Motor Vehicle 601.295
Duration of Impoundment 601.296
Certificate of Release 601.297
Liability for Cost of Impoundment 601.331
Report of Unsatisfied Judgment or Conviction, Plea, or Forfeiture of Bail 601.332
Suspension of Driver’s License and Vehicle Registration or Nonresident’s Operating Privilege for Unsatisfied Judgment 601.333
Relief from Suspension: Motor Vehicle Liability Insurance 601.334
Relief from Suspension: Consent of Judgment Creditor 601.335
Installment Payments Authorized 601.336
Relief from Suspension: Installment Payments 601.337
Effect of Bankruptcy 601.338
Evidence of Financial Responsibility or Suspension of Driver’s License and Vehicle Registration of Owner of Motor Vehicle 601.339
Evidence of Financial Responsibility Following Conviction, Plea, or Forfeiture 601.340
Evidence of Financial Responsibility or Suspension of Vehicle Registration Following Suspension or Revocation of Driver’s License 601.341
Evidence of Financial Responsibility 601.342
Evidence of Financial Responsibility Following Suspension or Revocation of Nonresident’s Operating Privilege 601.371
Operation of Motor Vehicle in Violation of Suspension 601.372
Return of Driver’s License and Vehicle Registration to Department 601.373
Failure to Return Driver’s License or Vehicle Registration 601.374
Transfer of Vehicle Registration Prohibited 601.375
Cooperation with Other State or Canada 601.376
Reinstatement Fee 601.401
Department Actions Subject to Review 601.451
Definition 601.452
Implementation of Program 601.453
Agent 601.454
Information Provided by Insurance Company 601.455
Access by Court
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 601.121’s source at texas​.gov