Tex. Gov't Code § 2156.011

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 2156.011 - Performance Bond

(a) The comptroller may require a performance bond before executing a contract.

(b) The comptroller may require the bond in an amount that the comptroller finds reasonable and necessary to protect the state's interests.

(c) Any bond required shall be issued on the condition that the bidder faithfully execute the terms of the contract.

(d) Any bond required shall be filed with the comptroller.

(e) Recoveries under the bond may continue until the bond is exhausted.

Tex. Gov't. Code § 2156.011

Amended by Acts 2019, Texas Acts of the 86th Leg.- Regular Session, ch. 1071,Sec. 64, eff. 9/1/2019.

Added by Acts 1995, 74th Leg., ch. 41, Sec. 1, eff. 9/1/1995.