Tex. Loc. Gov't Code § 394.032 · Subchapter D. CORPORATE POWERS
GENERAL POWERS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A housing finance corporation may:
(1) make contracts and other instruments as necessary or convenient to the exercise of powers under this chapter;
(2) incur liabilities;
(3) borrow money at rates determined by the corporation;
(4) issue notes, bonds, and other obligations; and
(5) secure any of its obligations by the mortgage or pledge of all or part of the corporation's property, franchises, and income.
(b) A housing finance corporation may plan, research, study, develop, and promote the establishment of residential development.
(c) A housing finance corporation may make donations for the public welfare or for charitable, scientific, or educational purposes.
(d) A housing finance corporation may enter into contracts to perform services for any other housing finance corporation or any individual or entity acting on behalf of any other housing finance corporation or, with respect to residential development, any housing authority, nonprofit enterprise, or similar entity.
(e) A housing finance corporation may delegate to the Texas Department of Housing and Community Affairs the authority to act on its behalf in the financing, refinancing, acquisition, leasing, ownership, improvement, and disposal of home mortgages or residential developments, including its authority to issue bonds for those purposes.
Notes and commentary — not statutory text
History
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987. Amended by Acts 1989, 71st Leg., ch. 258, Sec. 1, eff. Aug. 28, 1989; Acts 1997, 75th Leg., ch. 1420, Sec. 11, eff. June 20, 1997.
Amended by:
Acts 2025, 89th Leg., R.S., Ch. 208 (H.B. 21), Sec. 5, eff. May 28, 2025.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/LG/htm/LG.394.htm
- Text hash
- sha256 a2a9d571e76ff8114f76d0e93e7bd2a7736b819bdc2f85448a6736a977e32aec
- 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.