Texas Administrative Code (Last Updated: March 27,2024) |
TITLE 10. COMMUNITY DEVELOPMENT |
PART 5. OFFICE OF THE GOVERNOR, ECONOMIC DEVELOPMENT AND TOURISM OFFICE |
CHAPTER 187. CAPITAL ACCESS PROGRAM |
SECTION 187.16. Annual Reporting and Auditing Requirements
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(a) A participating financial institution shall remit an annual report to the Office containing the information required by Texas Government Code, Chapter 481, Subchapter BB, §481.411. The report must: (1) provide information with regard to outstanding capital access loans, capital access loan losses, and any other information consistent with the objectives of the program the Office considers appropriate; (2) state the total amount of loans for which the Office has made a contribution from the fund under the program; (3) include a copy of the institution's most recent financial statement; and (4) include information regarding the type and size of businesses and nonprofit organizations with capital access loans. (b) The Office may suspend enrollment of subsequent loans of a financial institution that fails to comply with the annual reporting requirement prescribed by this section. Source Note: The provisions of this §187.16 adopted to be effective September 15, 1997, 22 TexReg 8967; amended to be effective October 31, 2002, 27 TexReg 10010; amended to be effective August 5, 2012, 37 TexReg 5735