Tex. Fin. Code § 156.553 · Subchapter G. MORTGAGE GRANT FUND
MANAGEMENT OF FUND.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The commissioner, as manager of the mortgage grant fund, shall:
(1) subject to Subsection (b), invest and reinvest the assets of the fund;
(2) make disbursements from the fund in accordance with Section 156.554;
(3) advise the finance commission regarding the fund;
(4) maintain books and records for the fund as required by the finance commission; and
(5) appear at hearings or judicial proceedings related to the fund.
(b) Amounts in the mortgage grant fund may be invested and reinvested in accordance with Chapter 2256, Government Code, and under the prudent person standard described in Section 11b, Article VII, Texas Constitution.
Notes and commentary — not statutory text
History
Added by Acts 2021, 87th Leg., R.S., Ch. 929 (H.B. 3617), Sec. 7, eff. September 1, 2021.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.156.htm
- Text hash
- sha256 8afe000408906b8c23790a10831e6f3faca20ede95848cad63b268b02501da5a
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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The Texas Constitution
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