Texas Occupations Code 1801.055 – Suit On Bond
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(a) A person damaged by a breach of a condition of the bond may bring suit and recover under the bond.
(b) The suit shall be filed in the county in which the bond is filed.
Terms Used In Texas Occupations Code 1801.055
- 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) A bond is not void on first recovery and may be sued on until the total amount is exhausted.
(d) If the amount of the bond is reduced to $1,500 or less, the commission merchant shall file a new bond in an amount equal to $3,000. The new bond is liable for all future contracts entered into by the commission merchant and a consignor.
(e) A commission merchant who does not file a new bond under Subsection (d) may not do business in this state.