1. (a) Not later than the 15th day after the date of an election or appointment of a director or officer, the director or officer shall file a good and sufficient bond with the board secretary.

2. (b) The bond must be:

   1. (1) in the amount of $5,000;
   2. (2) payable to the authority;
   3. (3) conditioned on the faithful performance of duties as a director or officer; and
   4. (4) subject to approval by the board secretary.

Added by Acts 2025, 89th Leg., R.S., Ch. 240 (H.B. 2692), Sec. 1, eff. May 29, 2025.