Texas § UT.141.009 - PERFORMANCE GUARANTEE
Full text of Texas The Texas Constitution § UT.141.009 — PERFORMANCE GUARANTEE, with citation guidance and answers to common questions.
§ UT.141.009. PERFORMANCE GUARANTEE
PERFORMANCE GUARANTEE. A distribution system retailer shall post, in favor of the commission, financial surety in the form of a letter of credit, bond, or other acceptable form of financial surety with the commission in an amount equal to the lesser of $3 multiplied by the number of gallons of aggregate storage capacity in all of the propane gas systems operated by the distribution system retailer or $50,000. The issuer of the financial surety used to meet this requirement shall honor the financial surety if the issuer receives from the commission notice that the financial surety is due and payable. The commission may draw down all or a portion of the financial surety. The distribution system retailer shall provide the commission with verification of the adequacy of the financial surety, and the commission may order the distribution system retailer to adjust the amount of the financial surety annually. Added by Acts 2013, 83rd Leg., R.S., Ch. 1296 (H.B. 2532 ), Sec. 1, eff. September 1, 2013.
Frequently Asked Questions About Texas § UT.141.009
What does The Texas Constitution § UT.141.009 cover?
Section UT.141.009 ("PERFORMANCE GUARANTEE") 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 § UT.141.009?
A common citation format is "The Texas Constitution § UT.141.009" (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 § UT.141.009 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.