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Tex. Business & Commerce Code § 51.102

ACTION AGAINST BOND, TRUST ACCOUNT, OR LETTER OF CREDIT

Texas · Texas Business & Commerce Code · Status: effective

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Tex. Business & Commerce Code § 51.102, ACTION AGAINST BOND, TRUST ACCOUNT, OR LETTER OF CREDIT, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/630665
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(a) A person may bring an action against the bond, trust account, or irrevocable letter of credit obtained or established under Section 51.101 to recover actual damages for: (1) a violation of this chapter; or (2) the seller's breach of: (A) the business opportunity contract; or (B) an obligation arising from a business opportunity sale. (b) The aggregate liability of the surety, trustee, or issuer in an action under Subsection (a) may not exceed the amount of the bond, trust account, or irrevocable letter of credit. Amended by: