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Texas Natural Resources Code

§ 161.512 — INCREASE IN INTEREST RATE; ACCELERATED REPAYMENT

NR § 161.512Title 7. RESOURCES PROGRAMS · Ch. 161. VETERANS LAND BOARD · Art. K. LAND LOANS

Statute text

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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.

Legislative history

Added by Acts 2001, 77th Leg., ch. 333, Sec. 2, eff. May 21, 2001.

Source: Texas Natural Resources Code § 161.512 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.