Finance Code › Title 5 › Chapter 393 › Subchapter E

Texas Finance Code § 393.405

Claim Against Surety Bond or Account

Credit Services Organizations · Surety Bond; Surety Account

(a) A person making a claim against a surety bond or account of a credit services organization for a violation of this chapter may file suit against:

(1) the organization; and

(2) the surety or trustee.

(b) A surety or trustee is liable only for actual damages, reasonable attorney's fees, and court costs awarded under Section 393.503(a).

(c) The aggregate liability of a surety or trustee for an organization's violation of this chapter may not exceed the amount of the surety bond or account.

Official text of the Texas Finance Code as published by the Texas Legislative Council.

Official source
Legislative history

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

This section refers to

§ 393.503