{"data":{"id":"us-tx/tex.-business-commerce-code-52.053","jurisdiction":"us-tx","citation":"Tex. Business \u0026 Commerce Code § 52.053","heading":"CASH DEPOSIT INSTEAD OF BOND.","body":"Instead of furnishing the bond required by Section 52.051, the invention developer may provide for, in an amount equal to the amount of the bond required:\n(1) cash deposited with the secretary of state;\n(2) a certificate of deposit payable to the secretary of state and issued by a bank that is:\n(A) transacting business in this state; and\n(B) insured by the Federal Deposit Insurance Corporation;\n(3) an investment certificate of a share account assigned to the secretary of state and issued by a savings and loan association that is:\n(A) transacting business in this state; and\n(B) insured by the Federal Deposit Insurance Corporation; or\n(4) a bearer bond issued by the United States government or 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 52. INVENTION DEVELOPMENT SERVICES","SUBCHAPTER B. FINANCIAL REQUIREMENTS OF INVENTION DEVELOPERS"],"source_url":"https://statutes.capitol.texas.gov/Docs/BC/htm/BC.52.htm#52.053","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:56Z","sha256":"5c3e759799b6c8a19f307d0f996130dabd5a3d63712ea6b32edcbc9b8d778895","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-commerce-code-52.052","next":"us-tx/tex.-business-commerce-code-52.101"},"notice":"GroundRules: Original legal text. Not legal advice."}