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Texas Statutes (Last Updated: January 4, 2014) |
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GOVERNMENT CODE |
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Title 10. GENERAL GOVERNMENT |
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Subtitle G. ECONOMIC DEVELOPMENT PROGRAMS INVOLVING BOTH STATE AND LOCAL GOVERNMENTS |
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Chapter 2306. TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS |
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Subchapter F. HOUSING FINANCE DIVISION: GENERAL PROVISIONS |
Sec. 2306.125. COURT ACTIONS
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(a) The department may institute a judicial action or proceeding against a housing sponsor receiving a loan or owning a housing development under this chapter to:
(1) enforce this chapter;
(2) enforce the terms and provisions of an agreement or contract between the department and the recipient of a loan under this chapter, including provisions regarding rental or carrying charges and income limits as applied to tenants or occupants;
(3) foreclose its mortgage; or
(4) protect:
(A) the public interest;
(B) individuals and families of low and very low income or families of moderate income;
(C) stockholders; or
(D) creditors of the sponsor.
(b) In an action or proceeding under this section, the department may apply for the appointment of a trustee or receiver to assume the management and operation of the affairs of a housing sponsor.
(c) The department, through its designated agent, may accept appointment as trustee or receiver of a housing sponsor when appointed by a court of competent jurisdiction.