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Tex. Loc. Gov't Code § 116.151

LIABILITIES OF SURETIES ON SEPARATE BONDS

Acts 1987, 70th Leg., ch. 149, Sec. 1, eff

If a county depository provides separate bonds to secure county funds, each surety under a bond is liable only for that part of a loss resulting from the failure of the depository that bears to the total loss the same ratio as the amount of the bond bears to the total amount of all bonds and securities held by the county for the protection of the funds covered by the bond.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.