Texas Local Government Code 363.102 – Filing of Officer’s Bond
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(a) Before assuming the duties of the office, each director or officer, including a person designated under § 363.101(c), must execute a bond for $5,000 payable to the district, conditioned on the faithful performance of the person’s duties as director or officer.
(b) The bond shall be kept in the permanent records of the district.
Terms Used In Texas Local Government Code 363.102
- 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
(c) The board may pay for the bonds of the directors or officers with district funds.
(d) The board and the district may issue or sell bonds conditioned on the faithful performance of a person’s duties as a director as provided by this section.