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Texas Occupations Code - OCC § 1704.210. Withdrawal of Security

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

(a) A license holder may withdraw the security or a portion of the security deposited or executed under Section 1704.160, and the security shall be returned to the license holder or the license holder's heirs or assigns, if the person requesting the withdrawal is:

(1) a license holder in good standing and the amount of the security remaining after the withdrawal is:

(A) at least the minimum amount required by Section 1704.160; and

(B) an amount sufficient to maintain the ratios required by Section 1704.203; or

(2) a former license holder who has ceased to engage in the bonding business, or a former license holder's heir or assign, and the amount of the security remaining after the withdrawal is sufficient to:

(A) pay any outstanding judgments; and

(B) secure any unexpired obligation on a bail bond executed by the former license holder.

(b) The board may adopt rules to limit the number of times in a year security may be returned to a license holder under this section.

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Cite this article: FindLaw.com - Texas Occupations Code - OCC § 1704.210. Withdrawal of Security - last updated January 01, 2024 | https://codes.findlaw.com/tx/occupations-code/occ-sect-1704-210/

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