Texas § NR.161.508 - FEES
Full text of Texas The Texas Constitution § NR.161.508 — FEES, with citation guidance and answers to common questions.
§ NR.161.508. FEES
FEES; INTEREST. (a) All fees to be charged to a person who receives a loan must be approved by the board. (b) Any fees or expenses incurred in connection with a loan, including the cost of insurance, may be charged to the loan recipient and included in the principal amount of the loan. (c) A loan must bear a fixed, variable, floating, or other rate or rates of interest determined by the board. The board may set the interest rate or rates to provide a margin over the rate paid by the board on bonds issued by the board under this chapter. (d) The difference between the cost of the money to the board and the interest rate or rates charged to a loan recipient may be used in whole or in part to defray the expense of administering the program. (e) To ensure the maximum benefit of the program to the loan recipient, the board shall adopt rules: (1) relating to the fees, charges, and interest rates that may be charged by a lending institution in connection with financing the purchase of land with money that does not come from the fund; and (2) limiting to the maximum extent practical the fees, charges, and interest rates to the fees, charges, and interest rates that would be collected by the lending institution in the normal course of the institution's mortgage lending business. Added by Acts 2001, 77th Leg., ch. 333, Sec. 2, eff. May 21, 2001.
Frequently Asked Questions About Texas § NR.161.508
What does The Texas Constitution § NR.161.508 cover?
Section NR.161.508 ("FEES") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § NR.161.508?
A common citation format is "The Texas Constitution § NR.161.508" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § NR.161.508 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.