Texas § TN.370.410 - PERFORMANCE AND PAYMENT BOND
Full text of Texas The Texas Constitution § TN.370.410 — PERFORMANCE AND PAYMENT BOND, with citation guidance and answers to common questions.
§ TN.370.410. PERFORMANCE AND PAYMENT BOND
PERFORMANCE AND PAYMENT BOND. (a) An authority shall require a design-build contractor to provide: (1) a performance and payment bond; (2) an alternative form of security; or (3) a combination of the forms of security described by Subdivisions (1) and (2). (b) Except as provided by Subsection (c), a performance and payment bond, alternative form of security, or combination of the forms of security shall be in an amount equal to the cost of constructing or maintaining the project. (c) If the authority determines that it is impracticable for a private entity to provide security in the amount described by Subsection (b), the authority shall set the amount of the security. (d) A performance and payment bond is not required for the portion of a design-build contract under this section that includes design services only. (e) An authority may require one or more of the following alternative forms of security: (1) a cashier's check drawn on a financial entity specified by the authority; (2) a United States bond or note; (3) an irrevocable bank letter of credit drawn from a federal or Texas chartered bank; or (4) any other form of security determined suitable by the authority. (f) Chapter 2253 , Government Code, does not apply to a bond or alternative form of security required under this section. Added by Acts 2011, 82nd Leg., R.S., Ch. 1345 (S.B. 1420 ), Sec. 38, eff. September 1, 2011.
Frequently Asked Questions About Texas § TN.370.410
What does The Texas Constitution § TN.370.410 cover?
Section TN.370.410 ("PERFORMANCE AND PAYMENT BOND") 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 § TN.370.410?
A common citation format is "The Texas Constitution § TN.370.410" (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 § TN.370.410 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.