Texas § GV.2306.231 - LOAN CONDITIONS RELATING TO DEPARTMENT POWERS

§ GV.2306.231. LOAN CONDITIONS RELATING TO DEPARTMENT POWERS

LOAN CONDITIONS RELATING TO DEPARTMENT POWERS. As a condition of each loan, the department, acting through the housing finance division, may at any time during the construction, rehabilitation, or operation of a housing development: (1) enter and inspect the housing development to: (A) investigate the development's: (i) physical and financial condition; (ii) construction; (iii) rehabilitation; (iv) operation; (v) management; and (vi) maintenance; and (B) examine all books and records relating to: (i) capitalization; (ii) income; and (iii) other matters regarding capitalization or income; (2) impose charges that are required to cover the cost of inspections and examinations under Subdivision (1); (3) order alterations, changes, or repairs necessary to protect: (A) the security of the department's investment in a housing development; or (B) the health, safety, and welfare of the occupants of a housing development; (4) order a managing agent, housing development manager, or housing development owner to do whatever is necessary to comply with or refrain from violating an applicable law, ordinance, department rule, or term of an agreement regarding the housing development; and (5) file and prosecute a complaint against a managing agent, housing development manager, or housing development owner for a violation of any applicable law or ordinance. Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.