1. (a) Not later than the 15th day after the date of appointment, a director shall qualify by:

   1. (1) taking the constitutional oath of office; and
   2. (2) filing a good and sufficient bond with the secretary of state and obtaining the secretary of state's approval on the bond.

2. (b) The bond must be:

   1. (1) in the amount of $5,000;
   2. (2) payable to the authority; and
   3. (3) conditioned on the faithful performance of duties as a director.

Added by Acts 2021, 87th Leg., R.S., Ch. 914 (H.B. 3530), Sec. 1.03, eff. April 1, 2023.