Tex. Gov't Code § 481.453 · Subchapter CC. MICRO-BUSINESS DISASTER RECOVERY PROGRAM
POWERS OF BANK IN ADMINISTERING MICRO-BUSINESS RECOVERY FUND.
Text — Current through the 89th 2nd Called Legislative Session, 2025
In administering the fund, the bank has the powers necessary to carry out the purposes of this subchapter, including the power to:
(1) make, execute, and deliver contracts, conveyances, and other instruments necessary to the exercise of its powers;
(2) invest money at the bank's discretion in obligations determined proper by the bank, and select and use depositories for its money;
(3) employ personnel and counsel and pay those persons from money in the fund legally available for that purpose; and
(4) impose and collect fees and charges in connection with any transaction and provide for reasonable penalties for delinquent payment of fees or charges.
Notes and commentary — not statutory text
History
Added by Acts 2021, 87th Leg., R.S., Ch. 1004 (H.B. 3271), Sec. 1, eff. June 18, 2021.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.481.htm
- Text hash
- sha256 7011390b4d4ea80291f18b23b754a03e3a05afaaa1a866a3a071a7c24bfecfc5
- 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.