Tex. Insurance Code § 3503.002
EXECUTION OF OBLIGATION BY SURETY COMPANY
Texas · Texas Insurance Code · Status: effective
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- Citation
- Tex. Insurance Code § 3503.002, EXECUTION OF OBLIGATION BY SURETY COMPANY, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/685251
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Full text
(a) A surety company authorized to engage in business in this state may execute an obligation.
(b) Except as provided by Section 3503.004 or 3503.005, the execution of an obligation by a surety company under Subsection (a) is in full compliance with each law, charter, ordinance, or rule that requires:
(1) the obligation to be executed by one or more sureties; or
(2) the executing sureties to possess any qualification, including the requirement that a surety be a resident, householder, or freeholder.
(c) Each municipality, board, body, organization, court, public officer, and head of department shall accept and treat an obligation executed by a surety company under Subsection (a) as fully complying with each law, charter, ordinance, or rule described by Subsection (b).