Texas § OC.1201.105 - SECURITY REQUIRED
Full text of Texas The Texas Constitution § OC.1201.105 — SECURITY REQUIRED, with citation guidance and answers to common questions.
§ OC.1201.105. SECURITY REQUIRED
SECURITY REQUIRED. (a) The department may not issue or renew a license unless a bond or other security in a form prescribed by the director is filed with the department as provided by this subchapter. The bond or other security is payable to the manufactured homeowner consumer claims program. (b) If a bond is filed, the bond must be issued by a company authorized to do business in this state and must conform to applicable provisions of the Insurance Code. If other security is filed, that security must be maintained in or by a federally insured depository institution located in this state. (c) If the department experiences significant problems in obtaining timely reimbursements from a surety or the surety has experienced a deterioration in its financial condition, the board may direct the director to stop accepting bonds issued by the surety. Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003. Amended by: Acts 2007, 80th Leg., R.S., Ch. 863 (H.B. 1460 ), Sec. 10, eff. January 1, 2008. Acts 2017, 85th Leg., R.S., Ch. 408 (H.B. 2019 ), Sec. 8, eff. September 1, 2017.
Frequently Asked Questions About Texas § OC.1201.105
What does The Texas Constitution § OC.1201.105 cover?
Section OC.1201.105 ("SECURITY REQUIRED") 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 § OC.1201.105?
A common citation format is "The Texas Constitution § OC.1201.105" (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 § OC.1201.105 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.