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Texas Administrative Code (Last Updated: March 27,2024) |
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TITLE 10. COMMUNITY DEVELOPMENT |
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PART 5. OFFICE OF THE GOVERNOR, ECONOMIC DEVELOPMENT AND TOURISM OFFICE |
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CHAPTER 200. TEXAS SMALL BUSINESS CREDIT INITIATIVE |
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SUBCHAPTER A. TEXAS SMALL BUSINESS CREDIT INITIATIVE CAPITAL ACCESS PROGRAM |
SECTION 200.11. State Contributions to Loan Loss Reserve Accounts
Latest version.
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(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. Source Note: The provisions of this §200.11 adopted to be effective June 25, 2023, 48 TexReg 3217