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Texas Insurance Code - INS § 2651.102. Alternative to Bond

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) Instead of the bond required by Section 2651.101, a title insurance agent or direct operation may deposit with the department:

(1) cash;

(2) irrevocable letters of credit issued by a financial institution in this state that is insured by an agency of the United States; or

(3) securities approved by the department.

(b) The cash, letters of credit, or securities deposited under this section are subject to the conditions required for a bond under Section 2651.101.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 2651.102. Alternative to Bond - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-2651-102/

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