Bond Requirement For Directors and Officers

Sec. 8513.0207. BOND REQUIREMENT FOR DIRECTORS AND OFFICERS. (a) Not later than the 15th day after the date of an election or appointment of a director or officer, the director or officer shall file a good and sufficient bond with the board secretary. (b) The bond must be: (1) in the amount of $5,000; (2) payable to the authority; (3) conditioned on the faithful performance of duties as a director or officer; and (4) subject to approval by the board secretary. Added by Acts 2025, 89th Leg., R.S., Ch. 240 (H.B. 2692), Sec. 1, eff. May 29, 2025.