Sec. 161.514. SALE OF LOANS. (a) The board may sell at public or private sale, with or without public bidding, any or all of the loans made under this subchapter. Proceeds from the sale shall be deposited in the fund and otherwise applied in the manner provided by this chapter, except that at the direction of the board the sale proceeds may be used by the board, together with other available money, to discharge, pay, or redeem, wholly or partly, outstanding bonds issued by the board under this chapter.
(b) A loan made under this chapter that is combined with a housing assistance loan made under Chapter 162 or a home mortgage loan made under Chapter 164 may be sold under this section or under Chapter 162 or 164, as applicable.
Added by Acts 2007, 80th Leg., R.S., Ch. 223 (H.B. 1416), Sec. 1, eff. September 1, 2007.
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