Texas Human Resources Code 136.008 – Income From Loan
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Terms Used In Texas Human Resources Code 136.008
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Property: means real and personal property. See Texas Government Code 311.005
All income received on a loan made with money received under the program is the property of the development corporation. Income received on a loan includes the payment of interest by a borrower and the administrative fees assessed by the development corporation.