Texas Subdivision Bonds
SB 136: Subdivision Bond
The existing bond requirements for a subdivision bonds will be revised through this bill. This will be to expand the bond’s coverage and increase the amount required. Through current law the Commissioner’s Court requires a bond where the amount must sufficient to secure the construction of the roads, streets and drainage requirements, but not to exceed to the estimated cost of construction. Under the new bill the bond amount would be based upon the costs of other infrastructures such as water supply and sewage systems.
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Victor Lance is the founder and president of Lance Surety Bond Associates, Inc. He began his career as an officer in the U.S. Marine Corps, serving two combat tours. As president of Lance Surety, he now focuses on educating and assisting small businesses throughout the country with various license and bond requirements. Victor graduated from Villanova University with a degree in Business Administration and holds a Masters in Business Administration (MBA) from the University of Michigan's Ross School of Business.
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