Texas Natural Resources Code 161.507 – Loan Payments
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(a) The final principal payment on a loan shall be made not later than the 40th anniversary of the date of the loan.
(b) The board shall determine the maximum principal amount of loans to the same eligible person that may be outstanding at any time.
Terms Used In Texas Natural Resources Code 161.507
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
(c) Payments on the loan must be made at times determined by the board.