Sec. 501.252. STATE STANDARDS AND GUIDELINES FOR LEASE, SALE, OR LOAN AGREEMENTS. (a) The economic development office shall adopt rules:
(1) providing minimum standards for lease, sale, and loan agreements entered into under this subtitle; and
(2) providing guidelines with respect to the business experience, financial resources, and responsibilities of the lessee, purchaser, or borrower under a lease, sale, or loan agreement entered into under this subtitle.
(b) The economic development office may adopt rules governing the terms of a loan made by a corporation to a bank or other lending institution the proceeds of which are reloaned as permanent or temporary financing of a project.
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.
Structure Texas Statutes
Title 12 - Planning and Development
Chapter 501 - Provisions Governing Development Corporations
Subchapter F. Administration by Economic Development Office
Section 501.251. State Standards for Project Eligibility
Section 501.252. State Standards and Guidelines for Lease, Sale, or Loan Agreements
Section 501.253. Rules for Small Business Programs
Section 501.254. Filing of Rules and Guidelines With Secretary of State
Section 501.255. Approval of Lease, Sale, or Loan Agreement
Section 501.256. Approval of Bonds by Economic Development Office