11.71 – SURETY MAY TERMINATE LIABILITY. A surety under the
Texas Alcoholic Beverage Code § 11.71
Summary
This law allows a surety to terminate its liability on a permittee's bond by providing 30 days' written notice. After the notice period, the surety is no longer responsible for any actions of the permittee that occur after the notice is served. This affects sureties and permit holders in the alcoholic beverage industry in Texas.
Surety can terminate liability with 30 days' notice.
Notice must be served to both principal and commission.
Liability ends for acts after the notice period.
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In simple terms: Learn about Texas's SURETY MAY TERMINATE LIABILITY. A surety under the law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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