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Current as of January 01, 2024 | Updated by Findlaw Staff
If a personal surety or a surety company pays for a loss to a county under a depository bond, the surety is subrogated to the rights of the county in an amount equal to the amount of the surety's payment. However, the amount of the subrogation may not exceed the amount of the deposit secured by the surety at the time of the depository's default.
Cite this article: FindLaw.com - Texas Local Government Code - LOC GOV'T § 116.152. Subrogation of Sureties - last updated January 01, 2024 | https://codes.findlaw.com/tx/local-government-code/loc-gov-t-sect-116-152/
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