Sec. 161.507. LOAN PAYMENTS. (a) The final principal payment on a loan shall be made not later than the 40th anniversary of the date of the loan.
(b) The board shall determine the maximum principal amount of loans to the same eligible person that may be outstanding at any time.
(c) Payments on the loan must be made at times determined by the board.
Added by Acts 2001, 77th Leg., ch. 333, Sec. 2, eff. May 21, 2001.
Structure Texas Statutes
Chapter 161 - Veterans Land Board
Section 161.501. Purpose of Subchapter; Construction
Section 161.504. Eligibility for Loan
Section 161.505. Security for Loan
Section 161.506. Initial Payment or Equity
Section 161.507. Loan Payments
Section 161.508. Fees; Interest
Section 161.509. Late Payments; Default Interest Rate
Section 161.510. Combination With Certain Home Loans
Section 161.511. Time Limit on Transfer of Land
Section 161.512. Increase in Interest Rate; Accelerated Repayment
Section 161.513. Foreclosure and Resale
Section 161.514. Sale of Loans
Section 161.515. Certain Rights, Benefits, Conditions, and Obligations Prohibited