Sec. 8508.0063. DIRECTORS' AND EMPLOYEES' FIDELITY BONDS. (a) The executive director, the treasurer, and any other officer, agent, or employee of the authority who has responsibilities that involve the collection, custody, or payment of authority money shall execute a fidelity bond.
(b) The board must approve the form, amount, and surety of the bond.
(c) The authority shall pay the premiums on the bonds required under this chapter.
Added by Acts 2019, 86th Leg., R.S., Ch. 468 (H.B. 4172), Sec. 1.03, eff. April 1, 2021.
Structure Texas Statutes
Special District Local Laws Code
Title 6 - Water and Wastewater
Subtitle G - River Authorities
Chapter 8508 - Sulphur River Basin Authority
Subchapter B. Board of Directors; Administrative Provisions
Section 8508.0051. Membership of Board
Section 8508.0055. Bond Requirement for Directors
Section 8508.0056. Compensation of Directors
Section 8508.0058. Director Training Program
Section 8508.0059. Interest in Contract
Section 8508.0061. Executive Director
Section 8508.0062. Separation of Policymaking and Management Functions
Section 8508.0063. Directors' and Employees' Fidelity Bonds
Section 8508.0064. Authority's Office
Section 8508.0065. Negotiated Rulemaking and Alternative Dispute Resolution