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Texas Natural Resources Code

§ 134.126 — SECURITY FOR BOND

NR § 134.126Title 4. MINES AND MINING · Ch. 134. TEXAS SURFACE COAL MINING AND RECLAMATION ACT · Art. F. BONDS AND DEPOSITS

Statute text

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(a)The applicant and a corporate surety licensed to do business in this state shall execute the bond unless the applicant elects to deposit security under Subsection (b).
(b)The applicant may elect to deposit as security for the performance of the applicant's obligations under the bond:
(1)cash;
(2)negotiable bonds of the United States government or the state; or
(3)negotiable certificates of deposit of a bank organized or transacting business in the United States.
(c)The cash deposit or market value of the securities deposited under Subsection (b) must equal or exceed the amount of the bond required for the bonded area.

Legislative history

Added by Acts 1995, 74th Leg., ch. 76, Sec. 12.02(a), eff. Sept. 1, 1995.

Source: Texas Natural Resources Code § 134.126 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.