Section 501.155 - Loan to Finance Project(a) A corporation may make a secured or unsecured loan to a user for the purpose of providing temporary or permanent financing or refinancing of all or part of the cost of a project, including the refunding of an outstanding obligation, mortgage, or advance issued, made, or given by a person for the cost of a project.(b) For a loan made under this section, a corporation may charge and collect interest on the terms the corporation's board of directors considers advisable and not in conflict with this subtitle.Tex. Loc. Gov't. Code § 501.155
Added by Acts 2007, 80th Leg., R.S., Ch. 885, Sec. 3.01, eff. 4/1/2009.