Texas Laws - Human Resource Code

Added by Acts 2001, 77th Leg., ch. 878, Sec. 1, eff. Sept. 1, 2001. (9887)

Sec. 136.005. INVESTMENT COMMITTEE. (9888)(1-click HTML)

(a) Before contracting with a development corporation, the commission shall require the development corporation to establish an investment committee to approve loan requests of community health centers. (9889)

(b) The investment committee must consist of seven members as follows: (9890)

(1) at least two members with lending experience; (9891)

(2) at least two members who receive health care services from a community health center; and (9892)

(3) at least one member who represents the Texas Association of Community Health Centers, Inc. (9893)

Added by Acts 2001, 77th Leg., ch. 878, Sec. 1, eff. Sept. 1, 2001. (9894)

Sec. 136.006. LOANS TO COMMUNITY HEALTH CENTERS. (9895)(1-click HTML)

(a) The development corporation may make a loan to a community health center only with the approval of the investment committee. (9896)

(b) The development corporation shall use at least 60 percent of the money received under the program for loans to community health centers in existence for at least one year before the loan date. (9897)

(c) A loan made by the development corporation may be subordinated debt. (9898)


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