Sec. 3503.003. DESIGNATION OF AGENT BY CORPORATE SURETY REQUIRED. Notwithstanding Section 3503.002, in specifications by a municipality for work or supplies for which sealed bids are required, the municipality may require that a corporate surety tender designate, in a manner satisfactory to the municipality, an agent:
(1) who is a resident of the county in which the municipality is located; and
(2) to whom any required notices may be delivered and on whom process may be served in matters arising out of the suretyship.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 3, eff. April 1, 2007.
Structure Texas Statutes
Chapter 3503 - Surety Bonds and Related Instruments
Subchapter A. Certain Required or Permitted Obligations
Section 3503.002. Execution of Obligation by Surety Company
Section 3503.003. Designation of Agent by Corporate Surety Required
Section 3503.004. Written Certification of Reinsurance as Condition of Acceptance of Obligation