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Tex. Local Government Code § 116.151

LIABILITIES OF SURETIES ON SEPARATE BONDS

Texas · Texas Local Government Code · Status: effective

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Tex. Local Government Code § 116.151, LIABILITIES OF SURETIES ON SEPARATE BONDS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/689281
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If a county depository provides separate bonds to secure county funds, each surety under a bond is liable only for that part of a loss resulting from the failure of the depository that bears to the total loss the same ratio as the amount of the bond bears to the total amount of all bonds and securities held by the county for the protection of the funds covered by the bond.