SECTION 200.15. Withdrawal from Program; Termination of Participation in Program

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(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.

Source Note: The provisions of this §200.15 adopted to be effective June 25, 2023, 48 TexReg 3217

                    
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