The Texas Escrow Officers Schedule Bond is required by the Texas Department of Insurance.
In order to perform the duties of an Escrow Officer in Texas, you must be licensed through the Department of Insurance. In order to get the license, applicants must post the Texas Escrow Officers Schedule Bond and have a copy of it on file with the Department of Insurance Commissioner.
The Texas Title Insurance Act defines an escrow officer as an attorney or employee of an attorney licensed as an escrow officer or title insurance agent, whose duties include:
The Texas Escrow Officers Schedule Bond states that the bond holder will pay to the Texas Department of Insurance such pecuniary loss which the above named Title Insurance Agent/Direct Operation shall sustain while this bond is in effect through acts of fraud, dishonesty, forgery, theft, embezzlement or willful misapplication on the part of such Escrow Officer, either directly or alone, or in connivance with others.