Form Corp - P06 - Deposit In Lieu Of Surety Bond Form printable pdf download

Form Corp - P06 - Deposit In Lieu Of Surety Bond Form

DEPOSIT IN LIEU OF SURETY BOND

Private Child Support Enforcement Agencies

(Texas Finance Code § 396.105)

THIS CONTRACT AND AGREEMENT (“Agreement”) is entered into in triplicate on

_______________, 20____, between

_______________________________________________________ (the "Registrant"), a(n)

__________________________ organized under the laws of the State of ____________ and doing

business in the State of Texas, and the Commissioner of the Texas Department of Banking (the

“Commissioner”);

LEGAL AUTHORITY FOR DEPOSIT INSTEAD OF BOND

The Registrant is subject to the Texas Finance Code, Chapter 396 (the “Code”), entitled “Private

Child Support Enforcement Agencies,” which provides for the registration of private child support

enforcement agencies. Instead of furnishing the surety bond required by the Code, the Registrant is

permitted to deposit with the Texas Department of Banking (“Department”) money in an amount

determined by the Department not to exceed $50,000 (the “Deposit”). The Registrant may deposit the

Deposit with any financial institution possessing trust powers that is authorized to conduct a trust business

in the State of Texas acceptable to the Commissioner.

THE COMMISSIONER'S FINDING

The Commissioner finds that ____________________________________________ (the

“Custodian”), a (n) _____________________, located in _______________________, is authorized to

conduct trust business in the State of Texas, and is an acceptable Custodian for the Registrant's deposit.

REGISTRANT'S DEPOSIT

The Registrant deposits with Custodian the following Deposit:

Principal Amount:______________________; Account number:__________________.

CORP – P06 [04/13]

Texas Department of Banking

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Form Corp - P06 - Deposit In Lieu Of Surety Bond Form