Texas Statutes
Subchapter CC. Micro-Business Disaster Recovery Program
Section 481.453. Powers of Bank in Administering Micro-Business Recovery Fund

Sec. 481.453. POWERS OF BANK IN ADMINISTERING MICRO-BUSINESS RECOVERY FUND. In administering the fund, the bank has the powers necessary to carry out the purposes of this subchapter, including the power to:
(1) make, execute, and deliver contracts, conveyances, and other instruments necessary to the exercise of its powers;
(2) invest money at the bank's discretion in obligations determined proper by the bank, and select and use depositories for its money;
(3) employ personnel and counsel and pay those persons from money in the fund legally available for that purpose; and
(4) impose and collect fees and charges in connection with any transaction and provide for reasonable penalties for delinquent payment of fees or charges.
Added by Acts 2021, 87th Leg., R.S., Ch. 1004 (H.B. 3271), Sec. 1, eff. June 18, 2021.

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