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Tex. Transp. Code § 370.315

PERFORMANCE AND PAYMENT BONDS AND SECURITY

Known as the Regional Mobility Authority Act

The act spans §§ 370.001–370.410 (114 sections).

Added by Acts 2003, 78th Leg., ch. 1325, Sec. 2.01, eff

Notwithstanding Chapter 2253, Government Code, an authority shall require any party to an agreement to operate or maintain a transportation project to provide performance and payment bonds or other forms of security, including corporate guarantee, in amounts considered by the authority to be adequate to protect the authority and to assure performance of all obligations to the authority and to subcontractors providing materials or labor for a transportation project.

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