Section 28.83 - Collateral Administration(a) Except as otherwise provided by state law, by these rules or by resolution of the board, the staff, with approval of the commissioner of agriculture, the deputy commissioner of agriculture, or the official of the department designated by the commissioner of agriculture, shall have the authority to act on behalf of the Authority, without specific board approval, in regard to the collection, settlement and enforcement of each and every commitment under the program. Such authority shall include, without limitation, the actions required to be taken by the Authority under any loan agreement, any participation agreement and any other agreement entered into by the Authority concerning commitments provided by the Authority.(b) The Authority shall make efforts to perfect and preserve any security interest in collateral or other security pledge, and exercise any and all remedies available in the event of a default including possession, repossession and liquidation as appropriate to recover losses and other costs, including any attorneys' fees and court costs.(c) Nothing in this section shall prevent the staff or the commissioner of agriculture, the deputy commissioner of agriculture, or the official of the department designated by the commissioner of agriculture from submitting any matter to the board for its consideration and approval.4 Tex. Admin. Code § 28.83
Adopted by Texas Register, Volume 47, Number 19, May 13, 2022, TexReg 2856, eff. 5/18/2022