Texas considers adding surety bond requirement for highway tolling services

tolling

Currently under review by the House Committee on Transportation, Texas HB 2247 would amend certain administrative guidelines outlined for the state’s Department of Transportation. Should the amendment pass, surety bonds would be accepted as a form of collateral for installing tolling services on Texas state highways. Specifically, a performance bond would be required to guarantee that tolling services will be carried out ethically and lawfully by private contractors.

To read all of the proposed administrative rules, code and surety requirements, click here. If passed, this act would take effect on September 1, 2013, so check back with Surety Bond Insider for updates.

If you need a surety bond in Texas or any other state, contact SuretyBonds.com online 24/7 or by phone at 1 (800) 308-4358 Monday through Friday, 8 a.m. to 7 p.m. CST. You’ll be connected with an expert surety specialist who will walk you through each step of the bonding process.

About the Author

Jon Gottschalk
Jon Gottschalk is the Senior Marketing Director for Suretybonds.com and regularly blogs at the Surety Bond Insider to keep consumers informed on new legislation and updates in the commercial surety industry. He is also a licensed property & casualty insurance producer in Missouri.