Section 501.252 - State Standards and Guidelines for Lease, Sale, or Loan Agreements(a) The economic development office shall adopt rules:(1) providing minimum standards for lease, sale, and loan agreements entered into under this subtitle; and(2) providing guidelines with respect to the business experience, financial resources, and responsibilities of the lessee, purchaser, or borrower under a lease, sale, or loan agreement entered into under this subtitle.(b) The economic development office may adopt rules governing the terms of a loan made by a corporation to a bank or other lending institution the proceeds of which are reloaned as permanent or temporary financing of a project.Tex. Loc. Gov't. Code § 501.252
Added by Acts 2007, 80th Leg., R.S., Ch. 885, Sec. 3.01, eff. 4/1/2009.