Texas Water Code
Sec. § 60.036
Security for Bid on Oil, Gas, or Mineral Leases


Each bid submitted shall be accompanied by a certified check, cashier’s check, or bidder’s bond with a responsible corporate surety authorized to do business in Texas. The check or bond shall be in an amount equal to the first rental payment and bonus offered for the lease over and above the royalty and shall guarantee that the bidder will perform the terms of his bid if it is accepted by the commission.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
Source
Last accessed
Mar. 8, 2021