Sec. 2206.204. PERFORMANCE BOND REQUIRED. (a) Each board member and each board employee who has authority over money in the fund or money collected or invested by the pool shall execute a bond in an amount determined by the board. The bond must be payable to the pool and conditioned on the faithful performance of the person's duties.
(b) The pool shall pay the cost of a bond executed under Subsection (a).
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.
Structure Texas Statutes
Title 10 - Property and Casualty Insurance
Subtitle G - Pools, Groups, Plans, and Self-Insurance
Chapter 2206 - Risk Management Pools for Certain Educational Entities
Subchapter E. Board of Trustees
Section 2206.201. Board of Trustees
Section 2206.202. General Authority of Board; Rules
Section 2206.203. Personnel; Contracts for Services