Texas Property Code

§ 62.122 — BOND REQUIREMENTS

PR § 62.122Title 5. EXEMPT PROPERTY AND LIENS · Part B. LIENS · Ch. 62. BROKER'S AND APPRAISER'S LIEN ON COMMERCIAL REAL ESTATE · Art. G. BOND TO INDEMNIFY AGAINST LIEN

Statute text

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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:

…

Legislative history

Added by Acts 1999, 76th Leg., ch. 1571, Sec. 1, eff. Aug. 30, 1999.