Tex. Special District Local Laws Code § 8512.0208: SURETY BONDS.

Text of section effective on April 01, 2027

(a) The general manager, the treasurer, and any other authority officer, agent, or employee who is charged with the collection, custody, or payment of authority money shall give bond conditioned on:

(1) the faithful performance of the person's duties; and

(2) an accounting for all authority money and property coming into the person's possession.

(b) The bond must be in a form and amount and with a surety company approved by the board that is authorized to do business in this state.

(c) The authority shall pay the premium on the bond and charge the premium as an operating expense.

Added by Acts 2025, 89th Leg., R.S., Ch. 203 (H.B. 1615), Sec. 1.02, eff. April 1, 2027.