If the Court sets a bond for a temporary restraining order, temporary injunction or similar situation where the clerk must approve a bond, the following policies will apply.
Bonds Less Than $15,000
If the bond to be posted is in the amount of $15,000 or less then the Clerk will accept a cash bond, a bond signed by the applicant, and 2 good and sufficient sureties or a corporate surety bond. If the bond is signed by the applicant and 2 good and sufficient sureties, then an affidavit from the principal and the sureties will be required. The affidavit must set forth that the principal and the sureties have at least 2 times the amount of the bond set by the Court in unencumbered, non-exempt assets subject to execution in the State of Texas. The affidavits must provide enough information to establish the reliability of the sureties and the ability to identify them.
Such information as the street address of the person, a copy of the driver’s license, and a birth date will be necessary. Affiliate entities of a principal are not appropriate as sureties. If an attorney acts as surety, instead of a driver’s license substitute the attorney’s bar number. As to any rule, there are exceptions. The exceptions would have to be approved by the District Clerk on a case-by-case basis. If the Clerk is not comfortable with the affidavit or the sureties offered, then the bond may be rejected and cash or a corporate surety required.
Bonds Greater Than $15,000
If the Court sets the bond in an amount greater than $15,000 then cash or a corporate surety will be required. Affiliate entities of a principal are not appropriate as sureties. There are exceptions to this rule when the applicant is sufficiently credit worthy on the face of the application to justify approving the bond. Examples of credit worthy applications are Coca-Cola, Texas Instruments, L-3 Communications, a state or nationally chartered bank or credit union. The exceptions would have to be approved by the District Clerk. If the Clerk is not comfortable with the surety bond offered, then the bond may be rejected.
In addition to the financial requirement, you must meet the requirements for the language of the bond found in the Rules of Civil Procedure. Bonds must be properly conditioned depending on the type of bond you are seeking. Examine Rules 592a, 611, 644, 658a, 684, 698, 702, 703, and 719 of the Texas Rules of Civil Procedure.
Cash Bonds Requirements
If you are posting cash, you must have a written bond with the cash. The written cash bond does not require 2 sureties. However, it must be signed by the principal (applicant).