(a) A director shall, within 15 days after the date of appointment, qualify by taking the constitutional oath of office and by filing a good and sufficient bond with the secretary of state.(b) The bond is subject to approval by the secretary of state and must:(1) be in the amount of $5,000;(2) be payable to the authority; and(3) be conditioned on the faithful performance of the duties as a director. Added by Acts 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026), Sec. 1.04, eff. April 1, 2015.
Texas Legal Code