Required Response to Assessment of Sanctions. Not later than the 30th day after a party receives notification of an assessment of a sanction, the charged party shall file with the Chief Clerk of Proceedings:

1. (1) the amount of the sanction, in the form of a cashier's check, a certified check, or a certified draft; or

2. (2) a bond for the amount of the sanction. The bond must be:

   1. (A) executed by a licensed surety company authorized to do business in Texas;
   2. (B) approved by the division;
   3. (C) made payable to the Texas Department of Insurance; and
   4. (D) must be effective until all judicial review is final.

Source Note:The provisions of this §148.17 adopted to be effective June 9, 2005, 30 TexReg 3237; amended to be effective July 27, 2014, 39 TexReg 5608.