A lender may submit an application on behalf of an applicant if the applicant meets the following requirements:
  (1) if an individual, the applicant is a United States citizen and a resident of the State of Texas, or an entity in good standing and legally authorized to conduct business in the State of Texas;
  (2) provides evidence that the applicant's farm, ranch, or agriculture-related business is or will be located within the state; and
  (3) provides evidence of acceptable equity in the project in accordance with the commercial lender's underwriting standards.

Source Note: The provisions of this §28.24 adopted to be effective September 1, 2009, 34 TexReg 5902; amended to be effective February 23, 2012, 37 TexReg 907