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 200.15 - Withdrawal from Program; Termination of Participation in Program
Universal Citation: 10 TX Admin Code ยง 200.15
Current through Reg. 49, No. 12; March 22, 2024
(a) The Office may terminate enrollment of Qualified Loans under the Program:
(1) on the date specified in the Office's notice of termination to
the PFI; or
(2) upon 90 days' notice, or an earlier date if the
balance in the Fund reaches zero or the Office anticipates that the balance in the Fund will reach
zero.
(b) If a PFI's Loan Loss Reserve Account has a zero balance, the Office, in its sole discretion, may terminate the Agreement associated with that PFI.
(c) A PFI may withdraw from the Program after giving written notice to the Office. After receipt of this notice, the Office shall withdraw from the PFI's Loan Loss Reserve Account the portion of any remaining balance attributable to the Office's contributions, including earned interest.
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