Texas Administrative Code › Title 4 - AGRICULTURE › Part 1 - TEXAS DEPARTMENT OF AGRICULTURE › Chapter 28 - TEXAS AGRICULTURAL FINANCE AUTHORITY › Subchapter G - RURAL ECONOMIC DEVELOPMENT FINANCE PROGRAM › Section 28.87 - Ineligible Persons

Current through Reg. 49, No. 28; July 12,
				  2024
The following persons or entities are ineligible to receive
					 financial assistance under the Rural Economic Development Finance
					 Program:
(1) A principal, executive
				  officer, director, shareholder, member, or partner of a recipient, or any
				  subsidiary, parent, affiliate or related entity or person of a
				  recipient;
(2) A member of the
				  immediate family of a principal, executive officer, director, shareholder,
				  member, or partner of a recipient;
(3) A related interest of a principal,
				  executive officer, director, shareholder, member, or partner of
				  recipient;
(4) A person if the
				  investment would result in violation of Chapter 176 of the Texas Local
				  Government Code;
(5) A person (or
				  any principal executive officer, director, shareholder, or member) who has been
				  convicted of a felony;
(6) A person
				  (or any principal, executive officer, director, shareholder, or member) that
				  has demonstrated a pattern or practice of defalcation of accounts or
				  funds;
(7) A person (or any
				  principal executive officer, director, shareholder, or member) who has
				  mis-certified its status as a minority and/or woman owned business
				  enterprise;
(8) A person (or any
				  principal executive officer, director, shareholder, or member) who has been
				  debarred from participating in other federal or state programs;
(9) A person (or any principal executive
				  officer, director, shareholder, or member) that has been convicted of, or
				  subjected to a civil judgment for fraud;
(10) 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;
(11) 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, obstruction of justice, or
				  conspiracy to do the same;
(12) 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;
(13) 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;
(14) A business
				  that earns more than half of its annual net revenue from lending activities
				  unless the business is a Community Development Financial Institution;
(15) 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;
(16) A business
				  engaged in activities that are prohibited by federal or Texas law;
				  and
(17) 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.