{"data":{"id":"us-tx/tex.-business-commerce-code-51.101","jurisdiction":"us-tx","citation":"Tex. Business \u0026 Commerce Code § 51.101","heading":"BOND, TRUST ACCOUNT, OR LETTER OF CREDIT REQUIRED.","body":"(a) Before a seller makes a representation described by Section 51.003(a)(1) or otherwise represents that the purchaser is assured of making a profit from a business opportunity, the principal seller must:\n(1) obtain a surety bond from a surety company authorized to transact business in this state;\n(2) establish a trust account; or\n(3) obtain an irrevocable letter of credit.\n(b) The bond, trust account, or irrevocable letter of credit must be:\n(1) in an amount of $25,000 or more; and\n(2) in favor of this state.\nAmended by:\nActs 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.","path":["BUSINESS AND COMMERCE CODE","TITLE 4. BUSINESS OPPORTUNITIES AND AGREEMENTS","CHAPTER 51. BUSINESS OPPORTUNITIES","SUBCHAPTER C. BOND, TRUST ACCOUNT, OR LETTER OF CREDIT"],"source_url":"https://statutes.capitol.texas.gov/Docs/BC/htm/BC.51.htm#51.101","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:56Z","sha256":"05e04ffa1e5577765ef7c28397f1dec385835c853adcf03e28c5505ce9803575","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-commerce-code-51.054","next":"us-tx/tex.-business-commerce-code-51.102"},"notice":"GroundRules: Original legal text. Not legal advice."}