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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) Before assuming the duties of office, each director must execute a bond payable to the district or purchase an appropriate insurance policy that names the district as its sole beneficiary, conditioned on the faithful performance of the director's duties.
(b) For each director, the board shall determine the appropriate type and value of the bond or insurance policy.
(c) The board may pay for a director's bond or pay for a director's insurance policy and premiums with district money.
(d) Each director's bond or insurance policy shall be kept in the district's permanent records.
Cite this article: FindLaw.com - Texas Special District Local Laws Code - SDLL § 1024.055. Bond or Insurance - last updated January 01, 2024 | https://codes.findlaw.com/tx/special-district-local-laws-code/sdll-sect-1024-055/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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