Tex. Nat. Res. Code § 161.503 · Subchapter K. LAND LOANS
LOANS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In addition to purchasing land under Subchapters F and G, the board shall make or acquire loans with money from the fund to finance land purchases by eligible persons in accordance with this subchapter and rules adopted by the board.
(b) The board may enter into contracts with lending institutions to assist in processing, originating, servicing, or administering loans under this subchapter.
(c) The board shall adopt credit, underwriting, and appraisal standards that protect the best interest of the program and limit the exposure of the fund to any losses.
(d) The board shall adopt rules as necessary to implement this subchapter.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 333, Sec. 2, eff. May 21, 2001. Amended by Acts 2003, 78th Leg., ch. 674, Sec. 19, eff. Sept. 1, 2003.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/NR/htm/NR.161.htm
- Text hash
- sha256 27ca96da7d40a7970616d1d9c762b2a38fc25e2a9ddcc9cfa3256ca16de79503
- 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.