reglab/housing_qa huggingface dataset:
TX Loc Govt Code § 394.005 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 394 - Housing Finance Corporations in Municipalities and Counties|Subchapter A. General Provisions|Section 394.005. Application of Chapter to Property in Certain Municipalities

Sec. 394.005.  APPLICATION OF CHAPTER TO PROPERTY IN CERTAIN MUNICIPALITIES.  This chapter does not apply to property located within a municipality with more than 20,000 inhabitants as determined by the housing finance corporation's rules, resolutions relating to the issuance of bonds, or financing documents relating to the issuance of bonds, unless the governing body of the municipality approves the application of the chapter to that property.|Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.|
TX Loc Govt Code § 394.011 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 394 - Housing Finance Corporations in Municipalities and Counties|Subchapter B. Incorporation of Housing Finance Corporations|Section 394.011. Application for Incorporation

Sec. 394.011.  APPLICATION FOR INCORPORATION.  (a)  The governing body of a local government shall consider a written application for the incorporation of a housing finance corporation filed with the governing body by at least three residents of the local government who are citizens of this state and at least 18 years of age.(b)  If the governing body by resolution determines that the formation of the housing finance corporation is wise, expedient, necessary, or advisable and approves the form of the proposed articles of incorporation of the corporation, the articles may be filed as provided by this chapter.  A corporation may not be formed unless the application is filed with the governing body and the governing body adopts the resolution.(c)  The approval of the articles of incorporation of one housing finance corporation does not preclude the approval by the governing body of the articles of incorporation of additional corporations that have names or designations sufficient to distinguish them from previously created corporations.  The governing body may not permit the incorporation on its behalf of more than one corporation that has the power to make or acquire home mortgages, or to make loans to lending institutions, the proceeds of which are to be used to make home mortgages or to make loans on residential developments.|Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.|
TX Loc Govt Code § 394.013 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 394 - Housing Finance Corporations in Municipalities and Counties|Subchapter B. Incorporation of Housing Finance Corporations|Section 394.013. Incorporators

Sec. 394.013.  INCORPORATORS.  Three or more residents of the local government who are at least 18 years of age may act as incorporators of the housing finance corporation by signing, verifying, and delivering in duplicate to the secretary of state the articles of incorporation for the corporation.  An incorporator may be a member of the governing body, an officer, or an employee of the local government.|Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.|
TX Loc Govt Code § 394.014 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 394 - Housing Finance Corporations in Municipalities and Counties|Subchapter B. Incorporation of Housing Finance Corporations|Section 394.014. Articles of Incorporation

Sec. 394.014.  ARTICLES OF INCORPORATION.  (a)  The articles of incorporation of the housing finance corporation must contain:(1)  the name of the corporation;(2)  a statement that the corporation is a public, nonprofit corporation;(3)  the period of duration, which may be perpetual;(4)  a statement that the corporation is organized solely to carry out the purposes of this chapter;(5)  a statement that the corporation is to have no members;(6)  any provision not inconsistent with law, including any provision required or permitted under this chapter to be included in the bylaws, for the regulation of the internal affairs of the corporation;(7)  the street address of the corporation's initial registered office, which must be located in the local government, and the name of its initial registered agent at that address;(8)  the number of directors constituting the initial board of directors and the names and addresses of those directors, with a statement that each of them resides in the local government;(9)  the name and street address of each incorporator with a statement that each of them resides in the local government;  and(10)  a statement that a resolution approving the form of the articles of incorporation has been adopted by the governing body of the local government and the date of the adoption of the resolution.(b)  A housing finance corporation may exercise any power prescribed by this chapter regardless of whether the power is stated in its articles of incorporation.  The articles may prohibit the exercise of any power prescribed by this chapter.(c)  Unless the articles of incorporation provide that a change in the number of directors may be made only by amendment to the articles, a change in the number of directors may be made by an amendment to the bylaws.  In all other cases if a provision of the articles is inconsistent with the bylaws, the articles provision controls.|Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.|
TX Loc Govt Code § 394.017 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 394 - Housing Finance Corporations in Municipalities and Counties|Subchapter B. Incorporation of Housing Finance Corporations|Section 394.017. Filing of Articles of Amendment; Issuance of Certificate of Amendment

Sec. 394.017.  FILING OF ARTICLES OF AMENDMENT;  ISSUANCE OF CERTIFICATE OF AMENDMENT.  (a)  Duplicate originals of the articles of amendment must be delivered to the secretary of state.  If the secretary of state finds that the articles of amendment conform to law, the secretary shall, when a $25 fee is paid:(1)  endorse on each duplicate original the word "Filed" and the date of the filing;(2)  file one of the duplicate originals in the office of the secretary of state;  and(3)  issue a certificate of amendment, to which the secretary shall affix the other duplicate original.(b)  The secretary of state shall deliver the certificate of amendment, with the affixed duplicate original, to the housing finance corporation or its representative.(c)  On the issuance of the certificate of amendment, the amendment takes effect and the articles of incorporation are amended accordingly.(d)  An amendment does not affect an existing cause of action or any pending action to which the housing finance corporation is a party, or the existing rights of persons other than members.  If the amendment changes the housing finance corporation's name, the change does not abate a suit brought by or against the corporation under its former name.|Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.|
TX Loc Govt Code § 394.021 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 394 - Housing Finance Corporations in Municipalities and Counties|Subchapter C. Corporate Administration and Operation|Section 394.021. Board of Directors

Sec. 394.021.  BOARD OF DIRECTORS.  (a)  A housing finance corporation must have a board of directors in which all the powers of the corporation are vested.  The board may consist of any number of directors, all of whom must be residents of the local government.  A director may be a member of the governing body, an officer, or an employee of the local government.(b)  Members of the initial board of directors hold office for the period specified in the articles of incorporation.  After the initial directors, the governing body of the local government shall appoint directors in the manner and for the terms provided by the articles of incorporation or the bylaws.  Directors may be divided into classes, and the terms of office of the various classes may differ.(c)  Each director shall hold office for the term for which the director is elected or appointed and until the director's successor is elected or appointed and has qualified.  A director may be removed from office under any removal procedure provided by the articles of incorporation or the bylaws.  The governing body shall fill any vacancy in the board of directors by appointment in the manner provided by the articles of incorporation or the bylaws.(d)  A majority of the directors constitutes a quorum.  The directors may take action by a majority vote when a quorum is present.  Board meetings may be held inside or outside this state.  A regular meeting may be held with or without notice as provided by the bylaws.  A special meeting may be held on notice as provided by the bylaws.(e)  The officers of a housing finance corporation consist of a president, one or more vice-presidents, a secretary, a treasurer, and other officers and assistant officers as considered necessary.  Each officer shall be elected or appointed in the manner and for the term provided by the articles of incorporation or the bylaws.|Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.|
TX Loc Govt Code § 394.022 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 394 - Housing Finance Corporations in Municipalities and Counties|Subchapter C. Corporate Administration and Operation|Section 394.022. Organizational Meeting

Sec. 394.022.  ORGANIZATIONAL MEETING.  (a)  After the issuance of the certificate of incorporation, the board of directors named in the articles of incorporation, at the call of a majority of the incorporators, shall hold an organizational meeting to adopt bylaws, elect officers, and consider other issues that come before the meeting.  The meeting may be held inside or outside this state.(b)  The incorporators who call the meeting must give at least three days' notice of the meeting to each director by mailing to the director a notice that states the time and place of the meeting.|Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.|
TX Loc Govt Code § 394.023 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 394 - Housing Finance Corporations in Municipalities and Counties|Subchapter C. Corporate Administration and Operation|Section 394.023. Disposition of Corporate Earnings

Sec. 394.023.  DISPOSITION OF CORPORATE EARNINGS.  (a)  The housing finance corporation may not pay dividends.  The net earnings of the corporation may not be distributed to or benefit the directors or officers of the corporation or any person except as reasonable compensation for services rendered to the corporation.(b)  If the board of directors determines that sufficient provision has been made for full payment of the expenses, bonds, and other obligations of the corporation, any net corporate earnings accruing after the determination shall be paid to the local government.  The local government shall use amounts received under this subsection only to provide for the housing needs of individuals and families of low and moderate incomes, including single-family units and mixed income multifamily projects found by the local government to serve the interests of low and moderate income individuals and families if the single-family and multifamily projects have as a major purpose the provision of safe, sanitary, and decent housing for individuals and families of low income.(c)  This section does not prohibit the board of directors from transferring corporate property as provided by a contract made by the corporation.|Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1995, 74th Leg., ch. 951, Sec. 7, eff. June 16, 1995.|
TX Loc Govt Code § 394.024 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 394 - Housing Finance Corporations in Municipalities and Counties|Subchapter C. Corporate Administration and Operation|Section 394.024. Registered Office and Agent

Sec. 394.024.  REGISTERED OFFICE AND AGENT.  The housing finance corporation shall maintain a registered office and a registered agent as provided by Article 2.05, Texas Non-Profit Corporation Act (Article 1396-2.05, Vernon's Texas Civil Statutes).  The corporation may change its registered office or agent as provided by Article 2.06 of that Act.  Process may be served on the corporation as provided by Article 2.07 of that Act.|Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.|
TX Loc Govt Code § 394.025 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 394 - Housing Finance Corporations in Municipalities and Counties|Subchapter C. Corporate Administration and Operation|Section 394.025. Corporate Books and Records

Sec. 394.025.  CORPORATE BOOKS AND RECORDS.  A housing finance corporation shall keep complete books and records of account and shall keep minutes of the proceedings of its board of directors.|Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.|
TX Loc Govt Code § 394.026 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 394 - Housing Finance Corporations in Municipalities and Counties|Subchapter C. Corporate Administration and Operation|Section 394.026. Dissolution of Corporation

Sec. 394.026.  DISSOLUTION OF CORPORATION.  (a)  If the board of directors determines by resolution that the purposes for which the housing finance corporation was formed have been substantially met and that all bonds issued by and all obligations incurred by the corporation have been fully paid, the directors shall execute a certificate of dissolution stating those facts and declaring that the corporation is dissolved.  The directors shall file the certificate for recording in the office of the secretary of state.  The directors shall execute the certificate under the corporation's seal.(b)  On the filing of the certificate of dissolution, the corporation is dissolved.  The title to all funds and property owned by the corporation at the time of dissolution vests in the local government to be used exclusively by the local government to provide for the housing needs of individuals and families of low and moderate incomes, including single-family units and mixed income multifamily projects found by the local government to serve the interests of low and moderate income individuals and families if the single-family and multifamily projects have as a major purpose the provision of safe, sanitary, and decent housing for individuals and families of low income.  The funds and property shall be promptly delivered to the local government.|Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1995, 74th Leg., ch. 951, Sec. 8, eff. June 16, 1995.|
TX Loc Govt Code § 394.027 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 394 - Housing Finance Corporations in Municipalities and Counties|Subchapter C. Corporate Administration and Operation|Section 394.027. Annual Report

Sec. 394.027.  ANNUAL REPORT.  (a)  Before August 31 of each year, a housing finance corporation shall file with the Texas Department of Housing and Community Affairs a report in accordance with this section.  The department by rule shall prescribe the form of the report.(b)  The report must include for each single-family home mortgage loan made by the housing finance corporation during the preceding 12 months ending June 30 of the year the report is filed, the data reported by originating lenders under the Federal Home Mortgage Disclosure Act.(c)  The report must include for persons residing in multifamily housing units financed by the housing finance corporation information similar to the geographic and demographic information contained in the Texas Department of Housing and Community Affairs compliance monitoring form and tenant income certification, including household size, total household income, and project location.|Added by Acts 1995, 74th Leg., ch. 951, Sec. 9, eff. June 16, 1995.|
TX Loc Govt Code § 394.031 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 394 - Housing Finance Corporations in Municipalities and Counties|Subchapter D. Corporate Powers|Section 394.031. Exercise of Powers

Sec. 394.031.  EXERCISE OF POWERS.  (a)  A housing finance corporation may exercise any powers incidental to or necessary for the performance of the powers prescribed by this subchapter and may exercise other powers necessary or appropriate to carry out the purposes for which the corporation is organized.(b)  A housing finance corporation may exercise powers under this chapter by resolution of the board of directors.  The resolution takes effect immediately on adoption.|Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.|
TX Loc Govt Code § 394.032 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 394 - Housing Finance Corporations in Municipalities and Counties|Subchapter D. Corporate Powers|Section 394.032. General Powers

Sec. 394.032.  GENERAL POWERS.  (a)  A housing finance corporation may:(1)  make contracts and other instruments as necessary or convenient to the exercise of powers under this chapter;(2)  incur liabilities;(3)  borrow money at rates determined by the corporation;(4)  issue notes, bonds, and other obligations;  and(5)  secure any of its obligations by the mortgage or pledge of all or part of the corporation's property, franchises, and income.(b)  A housing finance corporation may plan, research, study, develop, and promote the establishment of residential development.(c)  A housing finance corporation may make donations for the public welfare or for charitable, scientific, or educational purposes.(d)  A housing finance corporation may enter into contracts to perform services for any other housing finance corporation or any individual or entity acting on behalf of any other housing finance corporation or, with respect to residential development, any housing authority, nonprofit enterprise, or similar entity.(e)  A housing finance corporation may delegate to the Texas Department of Housing and Community Affairs the authority to act on its behalf in the financing, refinancing, acquisition, leasing, ownership, improvement, and disposal of home mortgages or residential developments, within and outside the jurisdiction of the housing finance corporation, including its authority to issue bonds for those purposes.|Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1989, 71st Leg., ch. 258, Sec. 1, eff. Aug. 28, 1989;  Acts 1997, 75th Leg., ch. 1420, Sec. 11, eff. June 20, 1997.|
TX Loc Govt Code § 394.033 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 394 - Housing Finance Corporations in Municipalities and Counties|Subchapter D. Corporate Powers|Section 394.033. Corporate Name; Duration; Seal

Sec. 394.033.  CORPORATE NAME;  DURATION;  SEAL.  (a)  A housing finance corporation may have perpetual succession under its corporate name, unless a limited period of duration is stated in the articles of incorporation, and may sue and be sued, and complain and defend, under its corporate name.(b)  A housing finance corporation may have a corporate seal, which may be altered at will, and may use the seal by causing it, or a facsimile of it, to be impressed on, affixed to, or otherwise reproduced on any instrument required to be executed by the corporation's officers.|Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.|
TX Loc Govt Code § 394.034 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 394 - Housing Finance Corporations in Municipalities and Counties|Subchapter D. Corporate Powers|Section 394.034. Officers; Agents

Sec. 394.034.  OFFICERS;  AGENTS.  A housing finance corporation may elect or appoint corporate officers or agents for a period determined by the corporation, define their duties, and may set their compensation.|Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.|
TX Loc Govt Code § 394.035 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 394 - Housing Finance Corporations in Municipalities and Counties|Subchapter D. Corporate Powers|Section 394.035. Bylaws

Sec. 394.035.  BYLAWS.  A housing finance corporation may make, amend, and repeal bylaws, not inconsistent with the articles of incorporation or this chapter, for the administration and regulation of the corporation's affairs.|Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.|
TX Loc Govt Code § 394.036 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 394 - Housing Finance Corporations in Municipalities and Counties|Subchapter D. Corporate Powers|Section 394.036. Acceptance of Financial Assistance

Sec. 394.036.  ACCEPTANCE OF FINANCIAL ASSISTANCE.  (a)  A housing finance corporation may apply for and accept, on its own behalf or on behalf of another person, advances, loans, grants, contributions, guarantees, rent supplements, mortgage assistance, and other forms of financial assistance from the federal government, the state, a county, a municipality, or any other public or quasi-public body, corporation, or foundation, or from any other public or private source, for any of the purposes of this chapter.(b)  The corporation may include reasonable and appropriate terms, not inconsistent with the purposes of this chapter, in any contract for financial assistance obtained under this section.|Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.|