Sec. 501.252.  STATE STANDARDS AND GUIDELINES FOR LEASE, SALE, OR LOAN AGREEMENTS.  (a)  The economic development office shall adopt rules:
(1)  providing minimum standards for lease, sale, and loan agreements entered into under this subtitle; and
(2)  providing guidelines with respect to the business experience, financial resources, and responsibilities of the lessee, purchaser, or borrower under a lease, sale, or loan agreement entered into under this subtitle.
(b)  The economic development office may adopt rules governing the terms of a loan made by a corporation to a bank or other lending institution the proceeds of which are reloaned as permanent or temporary financing of a project.
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.