Texas Statutes
Subchapter CC. Micro-Business Disaster Recovery Program
Section 481.457. Oversight

Sec. 481.457. OVERSIGHT. (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.
Added by Acts 2021, 87th Leg., R.S., Ch. 1004 (H.B. 3271), Sec. 1, eff. June 18, 2021.

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