Texas Statutes (Last Updated: January 4, 2014) |
INSURANCE CODE |
Title 12. OTHER COVERAGE |
Chapter 3503. SURETY BONDS AND RELATED INSTRUMENTS |
Subchapter A. CERTAIN REQUIRED OR PERMITTED OBLIGATIONS |
Sec. 3503.001. DEFINITION
Latest version.
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In this subchapter, "obligation" means a bond, undertaking, recognizance, guaranty, or other obligation that is by law or by a charter, ordinance, or rule of a municipality, board, body, organization, court, or public officer required or permitted to be made, given, tendered, or filed to guarantee the performance of an act, duty, or obligation or the refraining from an act.
Added by Acts 2005, 79th Leg., Ch. 727 , Sec. 3, eff. April 1, 2007.