(a) If two or more commission merchants are employees or agents solely for one person, they may be covered by a single bond in an amount determined under § 147.023 of this code on the basis of combined purchases and sales.
(b) Two or more commission merchants not subject to Subsection (a) of this section may be covered under a single bond in an amount not less than the aggregate amount of individual bonds required under § 147.023 of this code.

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Terms Used In Texas Agriculture Code 147.024

  • Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005