Sec. 41.054.  OFFICERS;  BOND.  (a)  The board shall elect from its number a chairman, a secretary-treasurer, and other officers that it considers necessary.
(b)  The secretary-treasurer shall execute a corporate surety bond in an amount required by the board.  The bond shall be conditioned on the secretary-treasurer faithfully accounting for all money that comes into the custody of the officer.  The bond shall be filed with the commissioner.
Acts 1981, 67th Leg., p. 1087, ch. 388, Sec. 1, eff. Sept. 1, 1981.