Texas Estates Code 1002.003 – Authorized Corporate Surety
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Terms Used In Texas Estates Code 1002.003
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Surety: includes a personal surety and a corporate surety. See Texas Estates Code 22.032
“Authorized corporate surety” means a domestic or foreign corporation authorized to engage in business in this state to issue surety, guaranty, or indemnity bonds that guarantee the fidelity of a guardian.