Section 51.158 - Contents: Security Description If the seller is required to obtain a bond or establish a trust account, the disclosure statement must contain one of the following statements, as applicable:
(1) "As required by Texas law, the seller has secured a bond issued by ______, a surety company authorized to do business in this state. Before signing a contract to purchase this business opportunity, you should confirm the bond's status with the surety company."; or(2) "As required by Texas law, the seller has established a trust account with ______. Before signing a contract to purchase this business opportunity, you should confirm with the bank or savings institution the current status of the trust account."Tex. Bus. and Comm. Code § 51.158
Amended By Acts 2007, 80th Leg., R.S., Ch. 885, Sec. 2.01, eff. 4/1/2009.