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Texas Natural Resources Code

§ 161.509 — LATE PAYMENTS; DEFAULT INTEREST RATE

NR § 161.509Title 7. RESOURCES PROGRAMS · Ch. 161. VETERANS LAND BOARD · Art. K. LAND LOANS

Statute text

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(a)The board may impose charges for late payments.
(b)In addition to charging for late payments under Subsection (a), the board may set and impose a default rate of interest on:
(1)the past due amounts; or
(2)the entire unpaid balance.

Legislative history

Added by Acts 2001, 77th Leg., ch. 333, Sec. 2, eff. May 21, 2001. Amended by Acts 2003, 78th Leg., ch. 674, Sec. 20, eff. Sept. 1, 2003.

Source: Texas Natural Resources Code § 161.509 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.