Tex. Gov't Code § 2306.272 · Subchapter L. HOUSING FINANCE DIVISION: REGULATION OF HOUSING SPONSORS
HOUSING SPONSOR INVESTMENTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A principal or stockholder of a housing sponsor may not earn, accept, or receive a per annum return on an investment in a housing development financed by the department greater than that allowed by department rule.
(b) A housing sponsor's equity in a housing development is the difference between the mortgage loan and the total housing development cost.
(c) The department shall establish a housing sponsor's equity when the final mortgage advance is made.
(d) For the purposes of this section, the amount established under Subsection (c) remains constant during the life of the department's mortgage on the development, except for additional equity investment made by the sponsor with the department's approval or at its order.
(e) In this section, "housing development costs" has the meaning assigned by Section 2306.271(d).
Notes and commentary — not statutory text
History
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.2306.htm
- Text hash
- sha256 7504d7c6e3ec2728826d6194e5a9ae0788b11eabc4bd6f239214e1adb6d4cf23
- 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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