Tex. Local Government Code § 116.151
This is the official text of Tex. Local Government Code § 116.151, part of Texas’s Local Government Code — governs the powers and operations of Texas cities and counties.
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§ 116.151. LIABILITIES OF SURETIES ON SEPARATE BONDS.
Official statutory text
If a county depository provides separate bonds to secure county funds, each surety under a bond is liable only for that part of a loss resulting from the failure of the depository that bears to the total loss the same ratio as the amount of the bond bears to the total amount of all bonds and securities held by the county for the protection of the funds covered by the bond.
Status: in_force · Read it on the official government site
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