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Texas Government Code - GOV'T § 2306.125. Court Actions

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) The department may institute a judicial action or proceeding against a housing sponsor receiving a loan or owning a housing development under this chapter to:

(1) enforce this chapter;

(2) enforce the terms and provisions of an agreement or contract between the department and the recipient of a loan under this chapter, including provisions regarding rental or carrying charges and income limits as applied to tenants or occupants;

(3) foreclose its mortgage;  or

(4) protect:

(A) the public interest;

(B) individuals and families of low and very low income or families of moderate income;

(C) stockholders;  or

(D) creditors of the sponsor.

(b) In an action or proceeding under this section, the department may apply for the appointment of a trustee or receiver to assume the management and operation of the affairs of a housing sponsor.

(c) The department, through its designated agent, may accept appointment as trustee or receiver of a housing sponsor when appointed by a court of competent jurisdiction.

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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 2306.125. Court Actions - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-2306-125/

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