Gavvy: Office of the Governor, Economic Development and Tourism Office, Rule 200.111 Recoveries On Loans Subsequent to Payment of Claim

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Rule 200.111 Recoveries On Loans Subsequent to Payment of Claim

If the PFI recovers on a debt from a Borrower after the Office remits a Guaranteed Amount pursuant to §200.110 of this chapter (relating to Payment of Claims by the Office), the PFI shall promptly repay the Office the money remitted to the PFI for the Loss, up to the amount of the remittance. Source Note: The provisions of this §200.111 adopted to be effective June 25, 2023, 48 TexReg 3217

Gavvy last updated this database on: Aug 7, 2024