Surety Bond

Sec. 565.0551. SURETY BOND. (a) The executive director of the board may require a license holder to submit a surety bond to the board in an amount as prescribed by board rule, not to exceed $25,000. (b) The board may use a pharmacy's surety bond to secure the payment of a fine, fee, or penalty imposed on the pharmacy or costs incurred by the board in conducting an investigation of the pharmacy only under Section 565.002(a)(7) or (10) if the pharmacy fails to pay the fine, fee, penalty, or cost as prescribed by board rule. Added by Acts 2019, 86th Leg., R.S., Ch. 895 (H.B. 3496), Sec. 4, eff. January 1, 2020.