Sec. 394.031. EXERCISE OF POWERS. (a) A housing finance corporation may exercise any powers incidental to or necessary for the performance of the powers prescribed by this subchapter and may exercise other powers necessary or appropriate to carry out the purposes for which the corporation is organized.
(b) A housing finance corporation may exercise powers under this chapter by resolution of the board of directors. The resolution takes effect immediately on adoption.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
Structure Texas Statutes
Title 12 - Planning and Development
Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government
Chapter 394 - Housing Finance Corporations in Municipalities and Counties
Subchapter D. Corporate Powers
Section 394.031. Exercise of Powers
Section 394.032. General Powers
Section 394.033. Corporate Name; Duration; Seal
Section 394.034. Officers; Agents
Section 394.036. Acceptance of Financial Assistance
Section 394.038. Acquisition of Shares or Obligations
Section 394.039. Specific Powers Relating to Financial and Property Transactions
Section 394.040. Transactions With Lending Institutions
Section 394.041. Standards for Mortgages or Loans
Section 394.042. Disposal of Residential Developments or Home Mortgages