Texas · Through 89th 2nd Called Legislative Session, 2025

Tex. Government Code § 481.457: OVERSIGHT.

Read at publisher ↗

Where this section sits in the code

GOVERNMENT CODE
TITLE 4. EXECUTIVE BRANCH
SUBTITLE F. COMMERCE AND INDUSTRIAL DEVELOPMENT
CHAPTER 481. TEXAS ECONOMIC DEVELOPMENT AND TOURISM OFFICE
SUBCHAPTER CC. MICRO-BUSINESS DISASTER RECOVERY PROGRAM

(a) A community development financial institution participating in the program shall report quarterly to the bank:

(1) the names of micro-businesses that have received a disaster recovery loan;

(2) the current balance of all outstanding disaster recovery loans;

(3) the default rate on existing disaster recovery loans; and

(4) any other information the bank requires.

(b) A community development financial institution participating in the program shall prepare a detailed financial statement each quarter and provide a copy to the bank.

(c) A community development financial institution shall allow the bank to inspect the institution's financial records on request for purposes that relate to loans under the program.

Added by Acts 2021, 87th Leg., R.S., Ch. 1004 (H.B. 3271), Sec. 1, eff. June 18, 2021.

Collected 2026-08-27T01:47:16Z. Source file · JSON

Browse this collection