Texas § IN.887.055 - BOND REQUIREMENTS FOR CERTAIN PERSONS
Full text of Texas The Texas Constitution § IN.887.055 — BOND REQUIREMENTS FOR CERTAIN PERSONS, with citation guidance and answers to common questions.
§ IN.887.055. BOND REQUIREMENTS FOR CERTAIN PERSONS
BOND REQUIREMENTS FOR CERTAIN PERSONS. (a) In addition to the bond required by Section 887.054 and any other bond required by law, an association shall obtain a separate or blanket surety bond covering each other person who may have access to the association's mortuary funds. The bond must: (1) be issued by a surety authorized by the department to engage in business in this state; (2) be payable to the department for the use and benefit of the association; (3) obligate the principal and surety to pay any monetary loss sustained by the association through an act of fraud, dishonesty, forgery, theft, embezzlement, or wilful misapplication by a covered person, whether acting alone or with other persons; and (4) be in an amount determined by the department of at least $1,000 but not more than $5,000. (b) Successive recoveries may be made on a bond under this section until the amount of the bond is exhausted. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Frequently Asked Questions About Texas § IN.887.055
What does The Texas Constitution § IN.887.055 cover?
Section IN.887.055 ("BOND REQUIREMENTS FOR CERTAIN PERSONS") 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 § IN.887.055?
A common citation format is "The Texas Constitution § IN.887.055" (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 § IN.887.055 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.