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Tex. Gov't Code § 2306.270

REGULATION OF RETIREMENT OF CAPITAL INVESTMENT OR REDEMPTION OF STOCK

Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff

The department shall regulate the retirement of a capital investment or the redemption of stock of a limited profit housing sponsor if the retirement or redemption, when added to a dividend or other distribution, exceeds in any one fiscal year the permitted percentage, as allowed by the department, of the original face amount of the limited profit housing sponsor's investment or equity in a housing development.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.