Sec. 481.404. POWERS OF BANK IN ADMINISTERING CAPITAL ACCESS FUND

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In administering the fund, the bank has the powers necessary to carry out the purposes of this subchapter, including the power to:
(1) make, execute, and deliver contracts, conveyances, and other instruments necessary to the exercise of its powers;
(2) invest money at the bank's discretion in obligations determined proper by the bank, and select and use depositories for its money;
(3) employ personnel and counsel and pay the persons from money in the fund legally available for that purpose; and
(4) impose and collect fees and charges in connection with any transaction and provide for reasonable penalties for delinquent payment of fees or charges.

Added by Acts 1997, 75th Leg., ch. 1163, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2003, 78th Leg., ch. 814, Sec. 1.53, eff. Sept. 1, 2003.

                    
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