Fund 0887 – Telephone Solicitor's Bond Trust Fund

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Legal Citations:

Occupations Code sec. 1803.056

Origin Date: 1993 by H.B. 364, 73rd Leg., R.S.

Issue Date: 1994-04-01

Revised Date: 2015-12-07

Purpose

Created to hold surety bonds, letters of credit and certificate of deposits payable in favor of state in amount of $10,000 for each solicitor registration statement filed under this chapter. Held for benefit of persons injured by bankruptcy of a seller or seller's breach of agreement entered into during telephone solicitation. Amounts are held in financial institutions. Fund is used for financial reporting.

Classification	Group 08: Trust Funds [?]
Depository Interest	Not applicable
Disposition of Balance	Accumulative
Appropriation Technique	Not appropriated for state expenditure.

Administering Agencies

307 – Secretary of State

Financial Activity

To view this fund's current revenue and expenditure activity by agency or comptroller object code, visit the following links:

Notes

USAS Values

USAS Title	TELEPHONE SOLICITORS BOND TRUST FUND
Consolidated Fund
State Fund Group	08 - TRUST FUNDS
USAS Status	A

Those funds created to account for assets held by the state in a trustee capacity for individuals, private organizations or other governmental entities

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