Sec. 842.154. BOND REQUIREMENTS FOR CERTAIN OFFICERS AND EMPLOYEES. (a) Each group hospital service corporation shall post a bond for the officer or employee responsible for the handling of the corporation's money. The bond must be: (1) issued by a surety company licensed by the department to do business in this state; and (2) at all times in an amount at least equal to $25,000. (b) In addition to the bond required under Subsection (a), the corporation shall post a separate bond or a blanket bond for all employees who have access to the money of the corporation. The bond must be in a reasonable amount set by the commissioner in the amount of at least $500, not to exceed $10,000. (c) A bond required by this section must be payable to the commissioner for the use and benefit of the corporation.
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