Texas § BC.302.107 - SECURITY REQUIREMENTS
Full text of Texas The Texas Constitution § BC.302.107 — SECURITY REQUIREMENTS, with citation guidance and answers to common questions.
§ BC.302.107. SECURITY REQUIREMENTS
SECURITY REQUIREMENTS. A registration statement must be accompanied by security that: (1) is in the amount of $10,000; (2) is in the form of: (A) a bond executed by a corporate security that: (i) is approved by the secretary of state; and (ii) holds a license to transact business in this state; (B) an irrevocable letter of credit issued for the benefit of the registrant by a supervised financial institution whose deposits are insured by an agency of the federal government; or (C) a certificate of deposit in a supervised financial institution whose deposits are insured by an agency of the federal government, the principal of which may be withdrawn only on the order of the secretary of state; and (3) is conditioned on the seller's compliance with this chapter. Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278 ), Sec. 2.01, eff. April 1, 2009.
Frequently Asked Questions About Texas § BC.302.107
What does The Texas Constitution § BC.302.107 cover?
Section BC.302.107 ("SECURITY REQUIREMENTS") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § BC.302.107?
A common citation format is "The Texas Constitution § BC.302.107" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § BC.302.107 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.