Government Code › Title 4 › Chapter 489 › Subchapter F

Texas Government Code § 489.301

Definitions

Texas Economic Development Bank · Micro-Business Disaster Recovery Loan Guarantee Program

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.

Official text of the Texas Government Code as published by the Texas Legislative Council.

Official source
Legislative history

Added by Acts 2021, 87th Leg., R.S., Ch. 947 (S.B. 1465), Sec. 1, eff. June 18, 2021.