reglab/housing_qa huggingface dataset:
TX Nat Res Code § 161.511 (2021)
2021 Texas Statutes|Natural Resources Code|Title 7 - Resources Programs|Chapter 161 - Veterans Land Board|Subchapter K. Land Loans|Section 161.511. Time Limit on Transfer of Land

Sec. 161.511.  TIME LIMIT ON TRANSFER OF LAND.  (a)  Except as provided by Subsection (c), a recipient of a loan may not lease, sell, or otherwise transfer in whole or part land or any interest in land against which there is a mortgage, deed of trust, or any other lien securing the loan:(1)  before the third anniversary of the date the recipient purchases the land;  and(2)  unless the recipient has complied with any other terms and conditions provided by this subchapter and the rules of the board.(b)  After the three-year period prescribed by Subsection (a), land may be sold or otherwise transferred, subject to any lien securing a loan, if:(1)  all interest, principal, and taxes that are due have been paid;(2)  the terms and conditions of this subchapter and rules of the board have been met;  and(3)  the board approves the sale or other transfer.(c)  The board may waive the three-year period prescribed by Subsection (a):(1)  in a case of death, bankruptcy, financial incapacity, or divorce of the loan recipient;(2)  if a loan recipient is forced to move because of a change in employment or because the recipient's home is condemned through no fault of the recipient;  or(3)  at any other time the board considers a waiver to be in the best interest of the program.|Added by Acts 2001, 77th Leg., ch. 333, Sec. 2, eff. May 21, 2001.|
TX Nat Res Code § 161.512 (2021)
2021 Texas Statutes|Natural Resources Code|Title 7 - Resources Programs|Chapter 161 - Veterans Land Board|Subchapter K. Land Loans|Section 161.512. Increase in Interest Rate; Accelerated Repayment

Sec. 161.512.  INCREASE IN INTEREST RATE;  ACCELERATED REPAYMENT.  If a recipient of a loan does not comply with the requirements of Section 161.511(a) and the board does not waive the three-year period prescribed by that section, the board by rule may provide for:(1)  an increase in the interest rate on the loan;(2)  the acceleration of repayment of the principal of and interest on the loan;  or(3)  any other remedy the board considers appropriate.|Added by Acts 2001, 77th Leg., ch. 333, Sec. 2, eff. May 21, 2001.|
TX Nat Res Code § 161.513 (2021)
2021 Texas Statutes|Natural Resources Code|Title 7 - Resources Programs|Chapter 161 - Veterans Land Board|Subchapter K. Land Loans|Section 161.513. Foreclosure and Resale

Sec. 161.513.  FORECLOSURE AND RESALE.  The board shall adopt rules providing procedures governing foreclosure of a lien securing a loan.|Added by Acts 2001, 77th Leg., ch. 333, Sec. 2, eff. May 21, 2001.|
TX Nat Res Code § 161.514 (2021)
2021 Texas Statutes|Natural Resources Code|Title 7 - Resources Programs|Chapter 161 - Veterans Land Board|Subchapter K. Land Loans|Section 161.514. Sale of Loans

Sec. 161.514.  SALE OF LOANS.  (a)  The board may sell at public or private sale, with or without public bidding, any or all of the loans made under this subchapter.  Proceeds from the sale shall be deposited in the fund and otherwise applied in the manner provided by this chapter, except that at the direction of the board the sale proceeds may be used by the board, together with other available money, to discharge, pay, or redeem, wholly or partly, outstanding bonds issued by the board under this chapter.(b)  A loan made under this chapter that is combined with a housing assistance loan made under Chapter 162 or a home mortgage loan made under Chapter 164 may be sold under this section or under Chapter 162 or 164, as applicable.|Added by Acts 2007, 80th Leg., R.S., Ch. 223 (H.B. 1416), Sec. 1, eff. September 1, 2007.|
TX Nat Res Code § 161.515 (2021)
2021 Texas Statutes|Natural Resources Code|Title 7 - Resources Programs|Chapter 161 - Veterans Land Board|Subchapter K. Land Loans|Section 161.515. Certain Rights, Benefits, Conditions, and Obligations Prohibited

Sec. 161.515.  CERTAIN RIGHTS, BENEFITS, CONDITIONS, AND OBLIGATIONS PROHIBITED.  In making rules and administering this subchapter, the board may not impose on or grant a loan recipient or a transferee under Section 161.511 a right, benefit, condition, or obligation that, in any way, may impair:(1)  the ability of the board to sell a loan made under this subchapter; or(2)  the market value of a loan made under this subchapter.|Added by Acts 2007, 80th Leg., R.S., Ch. 223 (H.B. 1416), Sec. 1, eff. September 1, 2007.|
TX Nat Res Code § 162.001 (2021)
2021 Texas Statutes|Natural Resources Code|Title 7 - Resources Programs|Chapter 162 - Veterans' Housing Assistance Program|Subchapter A. General Provisions|Section 162.001. Definitions

Sec. 162.001.  DEFINITIONS.  (a)  In this chapter:(1)  "Board" means the Veterans' Land Board.(2)  "Fund" means the veterans' housing assistance fund.(3)  "Home" means a dwelling within this state in which a veteran intends to reside as the veteran's principal residence.(4)  "Lending institution" means a bank, trust company, savings bank, national banking association, savings and loan association, building and loan association, mortgage banker, mortgage company, credit union, life insurance company, or other financial institution that customarily provides service or aids in the financing of mortgages on single-family residential housing which has been approved for participation in the program by the board.  The term includes a holding company for any of the foregoing.(5)  "Loan" means a veterans' housing assistance loan made or acquired by the board under this chapter secured by a mortgage on a veteran's home.(6)  "Program" means the Veterans' Housing Assistance Program.(7)  "Commission" means the Texas Veterans Commission.(8)  "Veteran" has the meaning assigned by Section 161.001.(9)  "Veterans' housing assistance fund" means the Veterans' Housing Assistance Fund established under Article III, Section 49-b-1, of the Texas Constitution or the Veterans' Housing Assistance Fund II established under Article III, Section 49-b-2, of the Texas Constitution.  Each fund shall be separate and distinct from the other fund and the provisions of this chapter dealing with the fund shall relate to each fund separately and to the separate assets, liabilities, and administration of each fund.(b)  Repealed by Acts 2003, 78th Leg., ch. 1145, Sec. 5.(c)  Repealed by Acts 2003, 78th Leg., ch. 1145, Sec. 5.|Added by Acts 1983, 68th Leg., p. 547, ch. 115, Sec. 1.  Amended by Acts 1985, 69th Leg., ch. 266, Sec. 1, eff. Sept. 1, 1985;  Acts 1985, 69th Leg., ch. 798, Sec. 15;  Acts 1991, 72nd Leg., ch. 239, Sec. 1, eff. Sept. 1, 1991;  Acts 1993, 73rd Leg., ch. 242, Sec. 2.01 to 2.03, eff. Aug. 30, 1993;  Acts 2001, 77th Leg., ch. 83, Sec. 2, eff. May 11, 2001;  Acts 2003, 78th Leg., ch. 1145, Sec. 3, 5, eff. June 20, 2003.|
TX Nat Res Code § 162.002 (2021)
2021 Texas Statutes|Natural Resources Code|Title 7 - Resources Programs|Chapter 162 - Veterans' Housing Assistance Program|Subchapter A. General Provisions|Section 162.002. Money and Interests Included in the Veterans' Housing Assistance Fund

Sec. 162.002.  MONEY AND INTERESTS INCLUDED IN THE VETERANS' HOUSING ASSISTANCE FUND.  (a)  The veterans' housing assistance fund shall include:(1)  any interest of the board in home mortgage loans made from money in the fund to veterans pursuant to this chapter including any insurance thereon or on the homes;(2)  the proceeds derived from the sale or other disposition of the board's interest in home mortgage loans;(3)  the money attributable to any bonds issued and sold by the board to provide money for the fund which shall include but shall not be limited to the proceeds from the issuance and sale of such bonds;(4)  income, rents, and any other pecuniary benefit received by the board as a result of making these loans;(5)  sums received by way of indemnity or forfeiture for the failure of any bidder for the purchase of any such bonds to comply with the person's bid and accept and pay for such bonds and amounts received by the board under bond enhancement agreements with respect to the bonds;(6)  interest received from investments of any such money;  and(7)  any equitable interest in properties encumbered under this program and attributable to the fund.(b)  Except as otherwise provided by law, money in the fund shall be deposited in the State Treasury to the credit of the fund.|Added by Acts 1983, 68th Leg., p. 547, ch. 115, Sec. 1.  Amended by Acts 1993, 73rd Leg., ch. 242, Sec. 2.04, eff. Aug. 30, 1993;  Acts 1997, 75th Leg., ch. 71, Sec. 3, eff. May 9, 1997.|
TX Nat Res Code § 162.003 (2021)
2021 Texas Statutes|Natural Resources Code|Title 7 - Resources Programs|Chapter 162 - Veterans' Housing Assistance Program|Subchapter A. General Provisions|Section 162.003. Administration

Sec. 162.003.  ADMINISTRATION.  (a)  The board shall administer the veterans' housing assistance fund and the Veterans' Housing Assistance Program in accordance with this chapter.(1)  The board may contract with other agencies of the state or with private entities to administer all or part of the program.(2)  To the extent that it is cost effective, the board may contract with the commission to determine whether or not applicants qualify as veterans under the terms of this chapter.(3)  The board may set and collect fees it considers reasonable and necessary from each applicant to cover the expenses of administering the program, and these fees shall be deposited in the State Treasury and credited to a special housing program fee fund.(b)  The board shall adopt rules governing the administration of the fund and program, the making or acquiring of veterans' housing assistance loans, the criteria for approving lending institutions, the use of insurance on the loans and the homes financed under the program, as deemed appropriate by the board, as further security for the loans, the verification of occupancy of the home by the veteran as his principal residence, and the terms and conditions of any contract made with any lending institution for processing, originating, servicing, or administering the loans.  In determining the terms of any contracts for the origination or servicing of loans, the board shall review the prudent lending practices prevalent in the residential mortgage lending industry and shall follow such practices to the maximum extent practical.(c)  The board shall determine the quality and type of homes to be financed under the Veterans' Housing Assistance Program.(d)  The board shall maintain a list of approved lending institutions and shall review and revise such list as necessary at least annually.(e)  When the Veterans' Land Board applies under Subchapter C, Chapter 1231, Government Code, for the Bond Review Board's approval of a bond issuance, or on request of the Bond Review Board, with respect to loans made under the program, the Veterans' Land Board shall file with the Bond Review Board a report on the performance of the loans.  The Bond Review Board shall review the reports filed by the Veterans' Land Board under this subsection to assess the performance of loans made under the program.  The filing dates and the contents of the reports must comply with any rules adopted by the Bond Review Board.|Added by Acts 1983, 68th Leg., p. 547, ch. 115, Sec. 1.  Amended by Acts 1985, 69th Leg., ch. 798, Sec. 16, eff. Sept. 1, 1985;  Acts 1991, 72nd Leg., 1st C.S., ch. 4, Sec. 13.03, eff. Aug. 22, 1991;  Acts 2001, 77th Leg., ch. 1420, Sec. 8.356, eff. Sept. 1, 2001.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 1312 (S.B. 59), Sec. 88, eff. September 1, 2013.Acts 2019, 86th Leg., R.S., Ch. 573 (S.B. 241), Sec. 1.43, eff. September 1, 2019.|
TX Nat Res Code § 162.004 (2021)
2021 Texas Statutes|Natural Resources Code|Title 7 - Resources Programs|Chapter 162 - Veterans' Housing Assistance Program|Subchapter A. General Provisions|Section 162.004. Investments of Certain Money in the Veterans' Housing Assistance Fund

Sec. 162.004.  INVESTMENTS OF CERTAIN MONEY IN THE VETERANS' HOUSING ASSISTANCE FUND.  Money in the fund that is not immediately committed to the payment of principal and interest on bonds issued by the board to provide money for the fund, the making of home mortgage loans as provided by this chapter, or the payment of expenses as provided by this chapter may be invested in investments authorized for the veterans land fund.|Added by Acts 1989, 71st Leg., ch. 720, Sec. 4, eff. June 14, 1989.|
TX Nat Res Code § 162.0041 (2021)
2021 Texas Statutes|Natural Resources Code|Title 7 - Resources Programs|Chapter 162 - Veterans' Housing Assistance Program|Subchapter A. General Provisions|Section 162.0041. Custody and Investment of Assets Pending Transactions

Sec. 162.0041.  CUSTODY AND INVESTMENT OF ASSETS PENDING TRANSACTIONS.  With the approval of the comptroller, the board, in managing the assets of the fund, pending the completion of an investment transaction, may:(1)  select one or more commercial banks, depository trust companies, or other entities to serve as a custodian of the cash or securities of the fund;  and(2)  authorize the custodian to invest cash held under Subdivision (1) in the investments determined by the board.|Added by Acts 1997, 75th Leg., ch. 71, Sec. 4, eff. May 9, 1997.|
TX Nat Res Code § 162.0042 (2021)
2021 Texas Statutes|Natural Resources Code|Title 7 - Resources Programs|Chapter 162 - Veterans' Housing Assistance Program|Subchapter A. General Provisions|Section 162.0042. Lending Securities

Sec. 162.0042.  LENDING SECURITIES.  (a)  In managing the assets of the fund, the board may:(1)  select one or more commercial banks, depository trust companies, or other entities to serve as a custodian of the securities of the fund;  and(2)  authorize the custodian to lend the securities held under Subdivision (1) as provided by this section and by rules adopted by the board.(b)  To be eligible to lend securities under this section, a custodian selected by the board under Subsection (a) must be experienced in the operation of a fully secured securities loan program and must:(1)  maintain adequate capital in the prudent judgment of the board to assure the safety of the securities;(2)  execute an indemnification agreement satisfactory in form and content to the board fully indemnifying the board against loss resulting from the custodian's operation of a securities loan program for the fund's securities;  and(3)  require any securities broker or dealer to whom it lends securities of the fund to deliver to, and maintain with, the custodian collateral in the form of cash, United States government securities, or letters of credit that are issued by banks rated as to investment quality not less than A or its equivalent by a nationally recognized investment rating firm in an amount equal to at least 100 percent of the market value, from time to time, of the loaned securities.|Added by Acts 1997, 75th Leg., ch. 71, Sec. 4, eff. May 9, 1997.  Amended by Acts 1999, 76th Leg., ch. 134, Sec. 4, eff. May 20, 1999.|
TX Nat Res Code § 162.005 (2021)
2021 Texas Statutes|Natural Resources Code|Title 7 - Resources Programs|Chapter 162 - Veterans' Housing Assistance Program|Subchapter A. General Provisions|Section 162.005. Sale of Loans

Sec. 162.005.  SALE OF LOANS.  (a)  Notwithstanding any other provision of this chapter, the board may sell at public or private sale, with or without public bidding, any or all of the loans in the fund.  Proceeds from the sale shall be deposited in the fund and otherwise applied in the manner provided by this chapter, except that at the direction of the board the sale proceeds may be used by the board, together with other available money, to discharge, pay, or redeem, in whole or in part, outstanding bonds issued by the board under this chapter.(b)  In the resolution of the board that authorizes the sale of any or all of the loans in the fund, the board may also authorize one or more designated officers or employees of the board to act on the board's behalf in:(1)  conducting the sale of the loans;  and(2)  determining:(A)  the purchaser of the loans;  and(B)  the terms of the purchase agreement.(c)  A resolution that authorizes an officer or employee of the board to act on the board's behalf as provided by Subsection (b) must establish the maximum principal amount of the loans to be sold and the minimum sales price of the loans to be sold, expressed as a percentage of the principal amount of the loans.|Added by Acts 1993, 73rd Leg., ch. 242, Sec. 2.05, eff. Aug. 30, 1993.  Amended by Acts 2001, 77th Leg., ch. 620, Sec. 2, eff. Sept. 1, 2001.|
TX Nat Res Code § 162.006 (2021)
2021 Texas Statutes|Natural Resources Code|Title 7 - Resources Programs|Chapter 162 - Veterans' Housing Assistance Program|Subchapter A. General Provisions|Section 162.006. Temporary Transfers

Sec. 162.006.  TEMPORARY TRANSFERS.  Amounts temporarily transferred from either veterans' housing assistance fund to the veterans' land fund or to the other veterans' housing assistance fund under the Texas Constitution shall be returned to the fund as soon as practicable.  Investment earnings allocated by the board to the transferred amounts shall be credited to the fund as if the transfer had not been made.|Added by Acts 1993, 73rd Leg., ch. 242, Sec. 2.06.|
TX Nat Res Code § 162.011 (2021)
2021 Texas Statutes|Natural Resources Code|Title 7 - Resources Programs|Chapter 162 - Veterans' Housing Assistance Program|Subchapter B. Veterans' Housing Assistance Program|Section 162.011. Loans

Sec. 162.011.  LOANS.  (a)  The board shall make or acquire loans with money from the veterans' housing assistance fund in accordance with this chapter and the rules adopted by the board.(b)  To qualify for a loan under this chapter, a person must be a veteran at the time the person applies for the loan.  If an eligible veteran dies after filing an application, the surviving spouse may complete the transaction.(c)  The final principal payment on any loan under this chapter shall be made not later than 40 years after the date of the loan.  The board shall determine the maximum principal amount of loans to any veteran that may be outstanding at any time, except that amounts allocable to a home mortgage loan may not exceed the maximum amount allowable for a similar home mortgage loan through the United States Department of Veterans Affairs or any successor agency.(d)  The board shall obtain insurance covering at least 50 percent of all losses anticipated in connection with veteran payment defaults on loans secured by first or second mortgages, based upon the advice of one or more qualified consultants to the board as to potential losses which may be reasonably expected on the loans as determined by analysis, including but not limited to actual experience in the residential mortgage lending industry on similar types of mortgage loans, or, in the alternative, the board shall obtain insurance which shall insure repayment of at least 50 percent of the outstanding principal amount of all loans in the event of the nonpayment of the loans by the veterans.(e)  All fees to be charged to a veteran receiving a loan under this chapter must be approved by the board.  The board may enter into contracts with lending institutions to assist in processing, originating, servicing, or administering loans under this chapter.  Any fees and expenses incurred in connection with a loan, including the cost of insurance, may be charged to the veteran and made a part of the veteran's payments.(f)  The board may by rule determine, from time to time, the number of loans that a veteran may receive under this chapter.|Added by Acts 1983, 68th Leg., p. 547, ch. 115, Sec. 1.  Amended by Acts 1985, 69th Leg., ch. 798, Sec. 21, eff. Sept. 1, 1985;  Acts 1991, 72nd Leg., ch. 160, Sec. 3, eff. Aug. 26, 1991;  Acts 1993, 73rd Leg., ch. 242, Sec. 2.07, eff. Aug. 30, 1993;  Acts 1999, 76th Leg., ch. 133, Sec. 2, eff. May 20, 1999.|
TX Nat Res Code § 162.013 (2021)
2021 Texas Statutes|Natural Resources Code|Title 7 - Resources Programs|Chapter 162 - Veterans' Housing Assistance Program|Subchapter B. Veterans' Housing Assistance Program|Section 162.013. Interest Rate

Sec. 162.013.  INTEREST RATE.  A loan under this chapter shall bear a fixed, variable, floating, or other rate or rates of interest determined by the board.  The board may set the interest rate or rates to provide a margin over the rate paid by the board on its bonds issued under this chapter.  The difference between the cost of the money to the board and the interest rate or rates charged to a veteran may be used in whole or in part to defray the expense of administering the program.  To assure the maximum benefit of the program to the veteran, the board shall adopt rules relative to the fees, charges, and interest rates charged by the lending institutions on the financing of the home with money other than from the fund and shall limit to the maximum extent practical such fees, charges, and interest rates to those which would be collected by the lending institution in the normal course of its residential mortgage lending business.|Added by Acts 1983, 68th Leg., p. 547, ch. 115, Sec. 1.  Amended by Acts 1993, 73rd Leg., ch. 242, Sec. 2.08, eff. Aug. 30, 1993.|
TX Nat Res Code § 162.014 (2021)
2021 Texas Statutes|Natural Resources Code|Title 7 - Resources Programs|Chapter 162 - Veterans' Housing Assistance Program|Subchapter B. Veterans' Housing Assistance Program|Section 162.014. Security for the Loan

Sec. 162.014.  SECURITY FOR THE LOAN.  No disbursement of funds on a loan shall be made unless the loan is secured by a mortgage, deed of trust, or other lien on the home.  A mortgage retained by or a deed of trust to the board or any other lien may be a participation in a lien securing any other loan for the purchase of the property.  Payments to retire the loan shall be made at times determined by the board.|Added by Acts 1983, 68th Leg., p. 547, ch. 115, Sec. 1.|
TX Nat Res Code § 162.015 (2021)
2021 Texas Statutes|Natural Resources Code|Title 7 - Resources Programs|Chapter 162 - Veterans' Housing Assistance Program|Subchapter B. Veterans' Housing Assistance Program|Section 162.015. Initial Payment or Equity

Sec. 162.015.  INITIAL PAYMENT OR EQUITY.  The board may require an initial payment on a loan or may require an investment in the home by the veteran in an amount or amounts set by the board's rules under this chapter.|Added by Acts 1983, 68th Leg., p. 547, ch. 115, Sec. 1.  Amended by Acts 1993, 73rd Leg., ch. 242, Sec. 2.09, eff. Aug. 30, 1993.|