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Tex. Business & Commerce Code § 52.053

CASH DEPOSIT INSTEAD OF BOND

Texas · Texas Business & Commerce Code · Status: effective

Banking, Finance & Insurance
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Tex. Business & Commerce Code § 52.053, CASH DEPOSIT INSTEAD OF BOND, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/630701
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Instead of furnishing the bond required by Section 52.051, the invention developer may provide for, in an amount equal to the amount of the bond required: (1) cash deposited with the secretary of state; (2) a certificate of deposit payable to the secretary of state and issued by a bank that is: (A) transacting business in this state; and (B) insured by the Federal Deposit Insurance Corporation; (3) an investment certificate of a share account assigned to the secretary of state and issued by a savings and loan association that is: (A) transacting business in this state; and (B) insured by the Federal Deposit Insurance Corporation; or (4) a bearer bond issued by the United States government or this state. Amended by: