An officer required by law to give an official bond shall file the bond with the officer’s oath of office.
An officer shall execute the officer’s official bond with:
(1) two or more good and sufficient sureties; or
(2) a solvent surety company authorized to do business in this state.
(a) Except as provided by Subsection (b) or other law, the officer approving the bond of an officer required by law to give an official bond payable to the governor or the state shall deposit the bond with the comptroller.
(b) The governor shall deposit the official bond of the comptroller with the secretary of state.
A member of the governing body of a political subdivision created under Article III, Section 52, or Article XVI, Section 59, of the Texas Constitution who is required by law to file an official bond shall file a copy of the individual’s bond with the secretary of state not later than the 10th day after the date the bond is required by law to be filed.
(a) The official bond of a state, county, or precinct officer is not void on first recovery.
(b) An injured party may sue separately on a bond until the bond is exhausted.
(c) In no event may the surety be liable for more than the penal sum of the surety bond minus any amounts already paid out under the bond.
In a suit arising from the defalcation of a public officer or the misapplication or misappropriation of money by a public officer, the official bond of the officer inures to the benefit of a person aggrieved by the defalcation or misapplication or misappropriation occurring in the period covered by the bond.
For purposes of limitation, a suit on an official bond of a public officer arising from the defalcation of the officer or the misapplication or misappropriation of money by the officer is an action for debt founded on a contract in writing governed by Section 16.004, Civil Practice and Remedies Code.
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