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Texas Government Code - GOV'T § 481.457. Oversight

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

(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.

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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 481.457. Oversight - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-481-457/

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