16 Tex. Admin. Code § 33.42 - Performance Bonds
(a) This section
applies to performance bonds, which are the bonds required by Alcoholic
Beverage Code §
11.61(b-1)
and §
61.71(l).
(b) The first performance bond filed by a
licensee or permittee with the commission as prescribed under § 11.61(b-1)
and §
61.71(l)
of the Alcoholic Beverage Code shall be in the amount of $2,000. In the event
the first bond is forfeited to the commission, a licensee or permittee must
file a second bond with the commission as prescribed under those provisions in
the amount of $4,000 before a license or permit may be reinstated. In the event
the second bond is forfeited to the commission, a licensee or permittee must
file a third bond issued under those provisions in the amount of $6,000 before
a license or permit may be reinstated. If a permit or license that is secured
by a performance bond is cancelled, the performance bond in place at the time
of cancellation is forfeited to the commission.
(c) A permittee or licensee who is required
to file a performance bond may furnish instead of all or part of the required
bond amount:
(1) one or more certificates of
deposit assigned to the state issued by a federally insured bank or by a credit
union authorized to do business in this state; or
(2) one or more letters of credit issued by a
federally insured bank or credit union authorized to do business in this state.
(d) Forfeiture of
Performance Bonds.
(1) Except as provided by
paragraph (2) of this subsection, the commission may seek forfeiture of a
performance bond upon violation of any statute or rule under the commission's
jurisdiction.
(2) For violations of
Alcoholic Beverage Code §§
102.31 and
102.32, the
first six incidents may not be counted as violations supporting bond
forfeiture. The seventh and subsequent violations will be counted as violations
supporting bond forfeiture.
Notes
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