Sec. 402.404. SURETY BONDING. (a) A sole proprietor, partnership, corporation, or other legal entity engaged in the fitting and dispensing of hearing instruments shall file with the department security in a form provided by Subsection (b) in the amount of $10,000 and conditioned on the promise to pay all: (1) taxes and contributions owed to the state and political subdivisions of the state by the entity; and (2) judgments that the entity may be required to pay for: (A) negligently or improperly dispensing hearing instruments; or (B) breaching a contract relating to the dispensing of hearing instruments. (b) The security may be a bond, a cash deposit, or another negotiable security acceptable to the department. (c) A bond required by this section remains in effect until canceled by action of the surety, the principal, or the department. A person must take action on the bond not later than the third anniversary of the date the bond is canceled.
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