Tex. Business & Commerce Code § 51.102
This is the official text of Tex. Business & Commerce Code § 51.102, part of Texas’s Business & Commerce Code — governs commercial transactions and general business practices.
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§ 51.102. ACTION AGAINST BOND, TRUST ACCOUNT, OR LETTER OF CREDIT.
Official statutory text
(a) A person may bring an action against the bond, trust account, or irrevocable letter of credit obtained or established under Section 51.101 to recover actual damages for:
(1) a violation of this chapter; or
(2) the seller's breach of:
(A) the business opportunity contract; or
(B) an obligation arising from a business opportunity sale.
(b) The aggregate liability of the surety, trustee, or issuer in an action under Subsection (a) may not exceed the amount of the bond, trust account, or irrevocable letter of credit.
(1) a violation of this chapter; or
(2) the seller's breach of:
(A) the business opportunity contract; or
(B) an obligation arising from a business opportunity sale.
(b) The aggregate liability of the surety, trustee, or issuer in an action under Subsection (a) may not exceed the amount of the bond, trust account, or irrevocable letter of credit.
Status: in_force · Read it on the official government site
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