- (a) A director shall, within 15 days after the date of appointment, qualify by taking the constitutional oath of office and by filing a good and sufficient bond with the secretary of state.
(b) The bond is subject to approval by the secretary of state and must:
- (1) be in the amount of $1,000;
- (2) be payable to the authority; and
- (3) be conditioned on the faithful performance of the duties as a director.
Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.