Tex. Insurance Code § 842.154
BOND REQUIREMENTS FOR CERTAIN OFFICERS AND EMPLOYEES
Texas · Texas Insurance Code · Status: effective
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- Citation
- Tex. Insurance Code § 842.154, BOND REQUIREMENTS FOR CERTAIN OFFICERS AND EMPLOYEES, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/679374
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Full text
(a) Each group hospital service corporation shall post a bond for the officer or employee responsible for the handling of the corporation's money. The bond must be:
(1) issued by a surety company licensed by the department to do business in this state; and
(2) at all times in an amount at least equal to $25,000.
(b) In addition to the bond required under Subsection (a), the corporation shall post a separate bond or a blanket bond for all employees who have access to the money of the corporation. The bond must be in a reasonable amount set by the commissioner in the amount of at least $500, not to exceed $10,000.
(c) A bond required by this section must be payable to the commissioner for the use and benefit of the corporation.