Tex. Gov't Code § 481.457 · Subchapter CC. MICRO-BUSINESS DISASTER RECOVERY PROGRAM
OVERSIGHT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(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.
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 8e1e048a761dfa9fda8dc3af3882b384eadf5f6abae74ccee5a29117b1e9d0a1
- 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.