Section 481.457 - Oversight(a) A community development financial institution participating in the program shall report quarterly to the bank:(1) the names of micro-businesses that have received a disaster recovery loan;(2) the current balance of all outstanding disaster recovery loans;(3) the default rate on existing disaster recovery loans; and(4) any other information the bank requires.(b) A community development financial institution participating in the program shall prepare a detailed financial statement each quarter and provide a copy to the bank.(c) A community development financial institution shall allow the bank to inspect the institution's financial records on request for purposes that relate to loans under the program.Tex. Gov't. Code § 481.457
Added by Acts 2021, Texas Acts of the 87th Leg. - Regular Session, ch. 1004,Sec. 1, eff. 6/18/2021.