Texas Administrative Code
Title 10 - COMMUNITY DEVELOPMENT
Part 5 - OFFICE OF THE GOVERNOR, ECONOMIC DEVELOPMENT AND TOURISM OFFICE
Chapter 200 - TEXAS SMALL BUSINESS CREDIT INITIATIVE
Subchapter A - TEXAS SMALL BUSINESS CREDIT INITIATIVE CAPITAL ACCESS PROGRAM
Section 200.11 - State Contributions to Loan Loss Reserve Accounts
Universal Citation: 10 TX Admin Code ยง 200.11
Current through Reg. 49, No. 38; September 20, 2024
(a) Subject to subsection (b) of this section, for each Enrolled Loan, the Office shall deposit an amount equal to the premiums deposited by a PFI under § 200.9(c) of this chapter (relating to Contributions to Loan Loss Reserve).
(b) The Office shall not deposit the amount specified in subsection (a) of this section if:
(1) the
Fund does not contain an amount of money greater than or equal to the contribution;
(2) the amount of money in the PFI's Loan Loss Reserve is greater than or
equal to 100 percent of the aggregate amount of outstanding principal on all the PFI's Enrolled
Loans;
(3) the contribution per Enrolled Loan would be more than
the lesser of $350,000 or the premium amount authorized pursuant to §
200.9
of this chapter; or
(4) the contribution would result in more
than a total of $1,500,000 from the Fund to be contributed to the Loan Loss Reserve Account for a single
Qualified Business during any three-year period.
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