Texas Transportation Code
§ 722.005 — SECURITY REQUIREMENTS
TN § 722.005Title 7. VEHICLES AND TRAFFIC · Part J. MISCELLANEOUS PROVISIONS · Ch. 722. AUTOMOBILE CLUB SERVICES
Statute text
View on source(a)An applicant for an automobile club certificate of authority may provide the security required for that certificate by depositing with the state or pledging in the form prescribed by the secretary of state:
(1)$25,000 in securities approved by the secretary;
(2)$25,000 in cash; or
(3)a $25,000 bond in the form prescribed by the secretary that is:
(A)payable to the state;
(B)executed by a corporate surety licensed to do business in this state; and
…
Legislative history
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.