Sec. 702.157. LIMIT ON LIABILITY OF SURETY OR OBLIGOR. (a) The limit of a surety's or obligor's liability stated in the security filed or posted under this subchapter may not be cumulative from year to year or period to period, regardless of the number of:
(1) years that the security continues in force; or
(2) premiums paid or payable.
(b) The liability of a surety or obligor is exclusively conditioned on a final administrative order issued by the secretary of state.
(c) Security filed or posted under this subchapter is subject to a claim only as provided by this subchapter.
Acts 1999, 76th Leg., ch. 388, Sec. 1, eff. Sept. 1, 1999.
Structure Texas Statutes
Subtitle M - Regulation of Other Health Professions
Subchapter D. Security Requirements
Section 702.151. Security Required
Section 702.152. Surety Bond Requirements
Section 702.153. Requirements for Security Other Than Surety Bond
Section 702.154. Beneficiary of Security
Section 702.155. Duration of Security
Section 702.156. Notice of Cancellation of Security