Sec. 481.196. STATE LIABILITY PROHIBITED

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The state is not liable to an eligible lending institution for payment of the principal, interest, or any late charges on a loan made to an eligible borrower. Linked deposits are not an extension of the state's credit within the meaning of any state constitutional prohibition.

Added by Acts 1993, 73rd Leg., ch. 689, Sec. 1, eff. Aug. 30, 1993.

                    
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