SECTION 367.20. State Liability

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The state is not liable to an eligible lending institution for payment of the principal, interest, or any late charges on a loan made to an approved applicant. A linked deposit is not an extension of the state's credit within the meaning of any state constitutional prohibition.

Source Note: The provisions of this §367.20 adopted to be effective July 6, 2004, 29 TexReg 6348

                    
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