SECTION 187.5. Capital Access Lines of Credit

For purposes of this program, reserve contributions made by the eligible borrower, participating financial institution and the Office will be based on the amount of the open line of credit facility. Once established, lines of credit can be renewed by the participating financial institution without further application or reserve contributions. If the line of credit is increased the excess is eligible for further reserve contributions, to be treated in the same manner as a new line of credit or loan under the program. Reserve contributions covering line of credit facilities will be on the same terms as reserve contributions covering loans.

Source Note: The provisions of this §187.5 adopted to be effective September 15, 1997, 22 TexReg 8967; amended to be effective August 5, 2012, 37 TexReg 5735