(a) A land bank may enter into an interlocal contract under Section 791.011, Government Code, with:
(1) a municipality for a program created by the municipality under Chapter 373 or 374; or
(2) a non-qualifying municipality for the purpose of the land bank conducting land bank activities on behalf of and within the geographical boundaries of the non-qualifying municipality.
(b) Notwithstanding Section 379H.102(b)(2), a land bank may acquire real property within the geographical boundaries of a non-qualifying municipality with which it has entered into an agreement under Subsection (a).