Tex. Insurance Code § 3503.051
DEFINITIONS
Texas · Texas Insurance Code · Status: effective
Cite this
- Citation
- Tex. Insurance Code § 3503.051, DEFINITIONS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/685256
- Permanent ID
ys:prov:685256@1- SHA-256
921f67a1831b29b68ce7fb8e39021fff268c25cb4f0217a04824a9bfef594c17
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
In this subchapter:
(1) "Claimant" means a person directly entitled to payment under a construction payment bond.
(2) "Construction payment bond" means a surety agreement or obligation issued to guarantee or assure payment by a principal obligor for work performed or materials supplied or specially fabricated for a public or private construction project.
(3) "Notice of claim" means a written notification by a claimant who makes a claim for payment from the surety company. The term does not include a routine statutory notice required by Section 53.056 or 53.057, Property Code, or Section 2253.047, Government Code.
(4) "Surety company" means an authorized surety or guaranty company that executes and delivers a construction payment bond as a surety for a principal obligor.