Texas § PR.62.122 - BOND REQUIREMENTS
Full text of Texas The Texas Constitution § PR.62.122 — BOND REQUIREMENTS, with citation guidance and answers to common questions.
§ PR.62.122. BOND REQUIREMENTS
BOND REQUIREMENTS. The bond must: (1) describe the commercial real estate on which the lien is claimed; (2) refer to the lien claimed in a manner sufficient to identify it; (3) be in an amount that is double the amount of the lien referred to in the bond as of the date of execution of the bond by the surety, unless the total amount claimed in the lien exceeds $40,000, in which case the bond must be in an amount that is 1-1/2 times the amount of the lien; (4) be payable to the party claiming the lien; (5) be executed by: (A) the party filing the bond as principal; and (B) a corporate surety licensed by this state to execute the bond as surety; (6) be conditioned substantially that the principal and sureties will pay the named obligees or their assignees the amount that the named obligees would have been entitled to recover if their claim had been proved to be valid and enforceable liens on the commercial real estate; and (7) identify the last known mailing address of the person claiming the lien. Added by Acts 1999, 76th Leg., ch. 1571, Sec. 1, eff. Aug. 30, 1999.
Frequently Asked Questions About Texas § PR.62.122
What does The Texas Constitution § PR.62.122 cover?
Section PR.62.122 ("BOND 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 § PR.62.122?
A common citation format is "The Texas Constitution § PR.62.122" (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 § PR.62.122 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.