Sec. 2207.253. PERFORMANCE BOND REQUIRED. (a) Each board member shall execute a bond in the amount required by the plan of operation. The bond must be payable to the pool and conditioned on the faithful performance of the member's duties.
(b) The pool shall pay the cost of the bond executed under this section.
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 2207 - Excess Liability Pools for Counties and Certain Educational Entities
Subchapter F. Board of Trustees
Section 2207.251. Board of Trustees
Section 2207.252. Terms; Vacancy
Section 2207.253. Performance Bond Required
Section 2207.254. Compensation
Section 2207.255. Officers; Meetings
Section 2207.256. General Powers and Duties of Board
Section 2207.257. Annual Audit; Report
Section 2207.258. Immunity of Board Members From Certain Liabilities