{"data":{"id":"us-tx/tex.-business-commerce-code-302.107","jurisdiction":"us-tx","citation":"Tex. Business \u0026 Commerce Code § 302.107","heading":"SECURITY REQUIREMENTS.","body":"A registration statement must be accompanied by security that:\n(1) is in the amount of $10,000;\n(2) is in the form of:\n(A) a bond executed by a corporate security that:\n(i) is approved by the secretary of state; and\n(ii) holds a license to transact business in this state;\n(B) an irrevocable letter of credit issued for the benefit of the registrant by a supervised financial institution whose deposits are insured by an agency of the federal government; or\n(C) a certificate of deposit in a supervised financial institution whose deposits are insured by an agency of the federal government, the principal of which may be withdrawn only on the order of the secretary of state; and\n(3) is conditioned on the seller's compliance with this chapter.\nAdded by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.","path":["BUSINESS AND COMMERCE CODE","TITLE 10. USE OF TELECOMMUNICATIONS","SUBTITLE A. TELEPHONES","CHAPTER 302. REGULATION OF TELEPHONE SOLICITATION","SUBCHAPTER C. REGISTRATION"],"source_url":"https://statutes.capitol.texas.gov/Docs/BC/htm/BC.302.htm#302.107","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:56Z","sha256":"dd89f0cf72411fd0c473fec402391135e67bee35f32ab9de0119162b90354fdf","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-commerce-code-302.106","next":"us-tx/tex.-business-commerce-code-302.108"},"notice":"GroundRules: Original legal text. Not legal advice."}