Tex. Gov't Code § 2306.5671 · Subchapter Y. TEXAS STATE AFFORDABLE HOUSING CORPORATION
COMPLIANCE WITH TERMS OF CERTAIN CONTRACTS OR AGREEMENTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
A compliance contract or agreement between the corporation and a housing sponsor that receives bond financing by or through the corporation for the purpose of providing affordable multifamily housing must contain a provision stating that if the housing sponsor fails to comply with the terms of the contract or agreement, the corporation may, at a minimum and as appropriate:
(1) assess penalties;
(2) remove the manager of the affected property and select a new manager;
(3) withdraw reserve funds to make needed repairs and replacements to the property; or
(4) appoint the corporation as a receiver to protect and operate the property.
Notes and commentary — not statutory text
History
Added by Acts 2011, 82nd Leg., R.S., Ch. 291 (H.B. 1818), Sec. 8, eff. September 1, 2011.
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 3cda37efeb5c6f45fff234eb89eed838bfd181054fae83b8aa61528644d28b58
- 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
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.