Section 45.303 - Limitation on Participation; Minimum Requirements for Debt Service Reserve In adopting rules under Section 45.302, the commissioner may:
(1) limit participation in the program to charter holders who hold charters for open-enrollment charter schools that meet standards established by the commissioner, including standards for financial stability, compliance with applicable state and federal program requirements, and student academic performance; and(2) impose minimum requirements for a debt service reserve to secure repayment of obligations for which credit enhancement is provided under this subchapter.Added by Acts 2009, 81st Leg., R.S., Ch. 1328, Sec. 75, eff. 9/1/2009.