Section 489.301 - Definitions In this subchapter:
(1) "Declared disaster" means a state of disaster declared by the governor under Chapter 418.(2) "Financial institution" includes a bank, trust company, banking association, savings and loan association, mortgage company, investment bank, credit union, and nontraditional financial institution.(3) "Micro-business" means a corporation, partnership, sole proprietorship, or other legal entity that:(A) is domiciled in this state and has at least 95 percent of its employees located in this state;(B) is formed to make a profit; and(C) employs not more than 20 employees.(4) "Participating financial institution" means a financial institution participating in the program.(5) "Program" means the micro-business disaster recovery loan guarantee program.Tex. Gov't. Code § 489.301
Added by Acts 2021, Texas Acts of the 87th Leg. - Regular Session, ch. 947,Sec. 1, eff. 6/18/2021.