Tex. Occupations Code § 402.404
SURETY BONDING
Texas · Texas Occupations Code · Status: effective
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- Citation
- Tex. Occupations Code § 402.404, SURETY BONDING, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/699325
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Full text
(a) A sole proprietor, partnership, corporation, or other legal entity engaged in the fitting and dispensing of hearing instruments shall file with the department security in a form provided by Subsection (b) in the amount of $10,000 and conditioned on the promise to pay all:
(1) taxes and contributions owed to the state and political subdivisions of the state by the entity; and
(2) judgments that the entity may be required to pay for:
(A) negligently or improperly dispensing hearing instruments; or
(B) breaching a contract relating to the dispensing of hearing instruments.
(b) The security may be a bond, a cash deposit, or another negotiable security acceptable to the department.
(c) A bond required by this section remains in effect until canceled by action of the surety, the principal, or the department. A person must take action on the bond not later than the third anniversary of the date the bond is canceled.