Sec. 363.102. FILING OF OFFICER'S BOND
- (a) Before assuming the duties of the office, each director or officer, including a person designated under Section 363.101(c), must execute a bond for $5,000 payable to the district, conditioned on the faithful performance of the person's duties as director or officer.
- (b) The bond shall be kept in the permanent records of the district.
- (c) The board may pay for the bonds of the directors or officers with district funds.
- (d) The board and the district may issue or sell bonds conditioned on the faithful performance of a person's duties as a director as provided by this section.
Added by Acts 1997, 75th Leg., ch. 165, Sec. 23.03(a), eff. Sept. 1, 1997.