Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 29 - ECONOMIC DEVELOPMENT › Subchapter B - RURAL ECONOMIC DEVELOPMENT CAPITAL FOR TEXAS PROGRAM › Section 29.32 - Ineligible Persons

Current through Reg. 49, No. 28; July 12,
				  2024
The following persons or entities are ineligible to
					 receive funding under the RED C4T Program:
(1) An employee of the Texas Department of
				  Agriculture;
(2) A family
				  relationship of an employee of the Texas Department of Agriculture;
(3) A principal, executive officer, director,
				  shareholder, member, or partner of Recipient, or any subsidiary, parent,
				  affiliate or related entity or person of Recipient;
(4) A member of the immediate family of a
				  principal, executive officer, director, shareholder, member, or partner of
				  Recipient;
(5) A related interest
				  of a principal, executive officer, director, shareholder, member, or partner of
				  Recipient;
(6) A business engaged
				  in speculative activities that develop profits from fluctuations in price
				  rather than through normal course of trade, such as stock investments,
				  commodities futures and currency trading;
(7) A business that earns more than half of
				  its annual net revenue from lending activities, unless the business is a
				  Community Development Financial Institution (CDFI), Community Development
				  Corporation or a Certified Development Company;
(8) A business engaged in pyramid sales,
				  where a participant's primary incentive is based on the sales made by an
				  ever-increasing number of participants, or a multi-level marketing organization
				  or business;
(9) A business engaged
				  in activities that are prohibited by federal or Texas law;
(10) A business engaged in gambling
				  enterprises, with the sole exception of a retail grocery or convenience store
				  business that earns less than 33% of its annual net revenue from lottery sales;
(11) A person if the investment
				  would result in violation of Chapter 176 of the Texas Local Government Code;
(12) A person (or any principal
				  executive officer, director, shareholder, or member) who has been convicted of
				  a felony;
(13) A person (or any
				  principal, executive officer, director, shareholder, or member) who has
				  demonstrated a pattern or practice of defalcation of accounts or funds;
(14) A person (or any principal
				  executive officer, director, shareholder, or member) who has mis-certified
				  his/her status as a minority and/or woman owned business enterprise;
(15) A person (or any principal executive
				  officer, director, shareholder, or member) who has been debarred from
				  participating in other federal or state programs;
(16) A person (or any principal executive
				  officer, director, shareholder, or member) indebted to the United States of
				  America, any agency or department of the United States of America, the state of
				  Texas, any agency, department, instrumentality or political subdivision of the
				  state of Texas or any other state;
(17) A person (or any principal executive
				  officer, director, shareholder, or member) who has been convicted of, or
				  subjected to a civil judgment for, fraud;
(18) A person (or any principal executive
				  officer, director, shareholder, or member) who has been convicted of, or
				  subjected to a civil judgment for, federal or state antitrust law violations;
(19) A person (or any principal
				  executive officer, director, shareholder, or member) who has been convicted of
				  a criminal offense relating to embezzlement, theft, forgery, bribery,
				  falsification or destruction of records, making false statements, receiving
				  stolen property, making false claims, obstructing of justice, or conspiracy to
				  do the same;
(20) A person (or any
				  principal executive officer, director, shareholder, or member) who has been
				  convicted of a criminal offense indicating a breach of trust, dishonesty or
				  lack of integrity, or conspiracy to do the same; and
(21) A person (or any principal executive
				  officer, director, shareholder, or member) who has been convicted of, or
				  subjected to a civil penalty or judgment for, violation of state or federal
				  ethics laws.