Texas Agriculture Code Title 4, Chapter 59 - Farm And Ranch Finance Program

SUBCHAPTER A GENERAL PROVISIONS

• Texas Section 59.001 - Definitions
  In this chapter: (1) "Authority" means the Texas Agricultural Finance Authority created by Chapter 58 of this code. (2) "Board" means the board of directors...
• Texas Section 59.002 - Duties
  (a) The authority shall administer the program. (b) The board shall administer the fund. Added by Acts 1993, 73rd Leg., ch. 542, Sec. 1, eff....

SUBCHAPTER B BONDS

• Texas Section 59.003 - Limited Immunity From Suit Or Liability
  A member of the board may be sued and held personally liable for damages that result from an official act or omission only if the...
• Texas Section 59.011 - Bonds
  (a) The board may provide by order or resolution for the issuance and sale of negotiable bonds authorized by Article III, Section 49-f, of the...
• Texas Section 59.012 - Disposition Of Bond Proceeds
  Text of subsec. (a) as amended by Acts 1995, 74th Leg., ch. 858, Sec. 1 (a) Except as provided by Subsection (b) of this...
• Texas Section 59.013 - Payment Of Principal And Interest
  The board shall arrange for payment of the principal of bonds as they mature and the interest on the bonds as it becomes payable. Added...
• Texas Section 59.014 - Approval By Attorney General
  Before the bonds are delivered to the purchasers, the attorney general shall examine the record relating to the bonds. If the record demonstrates that the...
• Texas Section 59.015 - Use Of Fund To Pay Costs Of Issuance And Debt Service
  (a) The board may use money in the fund attributable to the issuance and sale of bonds to pay: (1) legal fees and fees for...
• Texas Section 59.016 - Investments
  (a) The authority shall give timely instruction to the board of the dates on which principal on bonds matures and interest becomes payable. The board...

SUBCHAPTER C ADMINISTRATION

• Texas Section 59.016 - Investments
  The board shall invest funds as provided under Section 58.022. Added by Acts 1993, 73rd Leg., ch. 542, Sec. 1, eff. Sept. 1, 1993. Amended...
• Texas Section 59.021 - Fund
  (a) The farm and ranch finance program fund is a fund in the state treasury. (b) At the direction of the board, money received from...
• Texas Section 59.022 - Rules
  (a) The board shall adopt rules governing application for financial assistance under this chapter. The board may adopt rules it considers necessary to administer the...
• Texas Section 59.023 - Powers Of Board
  The board has the power necessary to accomplish the purposes and carry out the programs provided by this chapter, including the power: (1) to adopt...
• Texas Section 59.024 - Application; Eligibility
  (a) To borrow money from the fund, a person must submit an application to the authority that contains an acceptable agricultural business plan for the...
• Texas Section 59.025 - Maximum Amount Of Loan Or Guarantee
  (a) A loan under this chapter may not exceed the lesser of: (1) $250,000; or (2) an amount equal to 95 percent of the lesser...
• Texas Section 59.026 - Transfer Of Borrower's Interest
  (a) The contract for a loan under this chapter must provide that transfer of ownership of the land without the board's express written permission before...
• Texas Section 59.027 - Changes In Use
  (a) Before a borrower may use land acquired with financial assistance under this chapter for a primary purpose other than farming or ranching, the borrower...
• Texas Section 59.028 - Appraisal
  (a) Before the board may loan money for the purchase of land under this chapter, the board must have an appraisal of the property made...
• Texas Section 59.029 - Payments To Board Under Certain Leases
  If, during a period a person is indebted to the board for land purchased with financial assistance under this chapter, the person executes or there...
• Texas Section 59.030 - Term Of Leases
  (a) A purchaser may not lease land purchased with financial assistance under this chapter for a term longer than 10 years, except: (1) a lease...
• Texas Section 59.031 - Death Of A Borrower
  (a) If a borrower receiving financial assistance under this chapter dies while indebted to the state under a contract, the borrower's rights under this chapter...

SUBCHAPTER D OFFENSES; PENALTIES

• Texas Section 59.032 - Unencumbered Title
  The board may establish a procedure by which a borrower acquiring land with a loan under this chapter may obtain title to a portion of...
• Texas Section 59.046 - False Or Fictitious Written Statement
  (a) A person commits an offense if the person knowingly or intentionally makes, publishes, passes, files, or uses any false, fictitious, or forged paper, document,...
• Texas Section 59.047 - Fraud
  (a) A person commits an offense if the person defrauds a person of rights or benefits under this chapter or uses this chapter to defraud...

Last modified: September 28, 2016