§ 105.207

1 Tex. Admin. Code § 105.207

Bond Payout Procedures

Effective Oct 16, 199520 TexReg 7973Source Note: The provisions of this §105.207 adopted to be effective October 16, 1995, 20 TexReg 7973.Texas Secretary of State

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If the total claims of actual financial loss exceed the amount of the security, the secretary of state shall pay the claims on a pro rata basis by dividing the amount of the security by the total amount of the claims, in order to determine a percentage to be applied to each claim.

Source Note:The provisions of this §105.207 adopted to be effective October 16, 1995, 20 TexReg 7973.