Texas Natural Resources Code 162.002 – Money and Interests Included in the Veterans’ Housing Assistance Fund
(a) The veterans’ housing assistance fund shall include:
(1) any interest of the board in home mortgage loans made from money in the fund to veterans pursuant to this chapter including any insurance thereon or on the homes;
(2) the proceeds derived from the sale or other disposition of the board’s interest in home mortgage loans;
(3) the money attributable to any bonds issued and sold by the board to provide money for the fund which shall include but shall not be limited to the proceeds from the issuance and sale of such bonds;
(4) income, rents, and any other pecuniary benefit received by the board as a result of making these loans;
(5) sums received by way of indemnity or forfeiture for the failure of any bidder for the purchase of any such bonds to comply with the person‘s bid and accept and pay for such bonds and amounts received by the board under bond enhancement agreements with respect to the bonds;
(6) interest received from investments of any such money; and
(7) any equitable interest in properties encumbered under this program and attributable to the fund.
(b) Except as otherwise provided by law, money in the fund shall be deposited in the State Treasury to the credit of the fund.
Terms Used In Texas Natural Resources Code 162.002
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005