Beneficiary of Surety Bond Or Account

Tex. Finance Code § 393.404, under Chapter 393.

Tex. Finance Code § 393.404

Sec. 393.404. BENEFICIARY OF SURETY BOND OR ACCOUNT. The surety bond or account of a credit services organization must be in favor of: (1) this state for the benefit of a person damaged by a violation of this chapter; and (2) a person damaged by a violation of this chapter. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.