A bank or trust company incorporated under the laws of this state that acts as depository of the proceeds of bonds or of revenue may furnish indemnifying bonds or pledge securities that the department requires.
Tex. Transp. Code § 228.111
FURNISHING OF INDEMNIFYING BONDS OR PLEDGE OF SECURITIES
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.