SUBCHAPTER B. SURETY BOND

Sec. 392.101.  BOND REQUIREMENT.  (a)  A third-party debt collector or credit bureau may not engage in debt collection unless the third-party debt collector or credit bureau has obtained a surety bond issued by a surety company authorized to do business in this state as prescribed by this section.  A copy of the bond must be filed with the secretary of state.
(b)  The bond must be in favor of:
(1)  any person who is damaged by a violation of this chapter;  and
(2)  this state for the benefit of any person who is damaged by a violation of this chapter.
(c)  The bond must be in the amount of $10,000.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.