Form FIN505 "Insurance Agency Bond" - Texas

What Is Form FIN505?

This is a legal form that was released by the Texas Department of Insurance - a government authority operating within Texas. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on May 1, 2021;
  • The latest edition provided by the Texas Department of Insurance;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of Form FIN505 by clicking the link below or browse more documents and templates provided by the Texas Department of Insurance.

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Download Form FIN505 "Insurance Agency Bond" - Texas

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FIN505 | 0521
Insurance agency bond
________________________________
Bond number
Know All Persons by These Presents:
That we, _____________________________________________________________________________________________,
as Principal, whose address is _______________________________________________________________________,
and _________________________________, as Surety, being a surety company authorized to do business in the State
of Texas, are bound to the Texas Department of Insurance in the sum of Twenty-Five Thousand Dollars
($25,000.00). Said money is payable to the Texas Department of Insurance for the use and benefit of any
customer of the above described Principal and as defined by the Texas Insurance Code, §4001.106 in
acceptable currency of the United States in accordance with the statutory provision cited above. By this
instrument, we jointly and severally firmly bind ourselves, our heirs, executors, administrators, successors and
assigns.
The conditions of the above obligations are:
Whereas the above named Principal has applied to the Texas Department of Insurance for a license as an
Insurance Agent to engage in or continue the business of insurance as an Insurance Agent in accordance with
the Texas Insurance Code;
Now, therefore
should the Principal discharge losses that result from any final judgment recovered against
,
the Principal by any customer, this obligation will become void. If this obligation is not void, it remains in full
force and effect, subject to the following conditions:
1.
As of ___________________________, 20_____, this bond will be in full force and effect indefinitely.
Continuation or renewal certificates are unnecessary.
2.
The surety may, at any time, terminate this bond by submitting written notice to the Texas
Department of Insurance thirty (30) days prior to the termination date. The surety, however,
remains liable for any defaults under this bond committed prior to the termination date.
3.
In no event will the aggregate liability of the Surety under this bond, for any or all damages to
one or more claimants, exceed the penal sum of this bond.
IN WITNESS WHEREOF said Principal and Surety have executed this bond this _____day of
________________________, 20____, to be effective the _____ day of ______________________, 20____.
___________________________________________________________
Principal
______________________________________________________
By
______________________________________________________
Address
______________________________________________________
Surety
______________________________________________________
By
Page 1 of 1
FIN505 | 0521
Insurance agency bond
________________________________
Bond number
Know All Persons by These Presents:
That we, _____________________________________________________________________________________________,
as Principal, whose address is _______________________________________________________________________,
and _________________________________, as Surety, being a surety company authorized to do business in the State
of Texas, are bound to the Texas Department of Insurance in the sum of Twenty-Five Thousand Dollars
($25,000.00). Said money is payable to the Texas Department of Insurance for the use and benefit of any
customer of the above described Principal and as defined by the Texas Insurance Code, §4001.106 in
acceptable currency of the United States in accordance with the statutory provision cited above. By this
instrument, we jointly and severally firmly bind ourselves, our heirs, executors, administrators, successors and
assigns.
The conditions of the above obligations are:
Whereas the above named Principal has applied to the Texas Department of Insurance for a license as an
Insurance Agent to engage in or continue the business of insurance as an Insurance Agent in accordance with
the Texas Insurance Code;
Now, therefore
should the Principal discharge losses that result from any final judgment recovered against
,
the Principal by any customer, this obligation will become void. If this obligation is not void, it remains in full
force and effect, subject to the following conditions:
1.
As of ___________________________, 20_____, this bond will be in full force and effect indefinitely.
Continuation or renewal certificates are unnecessary.
2.
The surety may, at any time, terminate this bond by submitting written notice to the Texas
Department of Insurance thirty (30) days prior to the termination date. The surety, however,
remains liable for any defaults under this bond committed prior to the termination date.
3.
In no event will the aggregate liability of the Surety under this bond, for any or all damages to
one or more claimants, exceed the penal sum of this bond.
IN WITNESS WHEREOF said Principal and Surety have executed this bond this _____day of
________________________, 20____, to be effective the _____ day of ______________________, 20____.
___________________________________________________________
Principal
______________________________________________________
By
______________________________________________________
Address
______________________________________________________
Surety
______________________________________________________
By
Page 1 of 1