Security For Loans

Sec. 481.504. SECURITY FOR LOANS. In addition to any other security provided by law, if a defense community defaults on a loan, a state agency making a loan to the defense community for a project described by Section 481.502(a) may foreclose under a loan agreement in the manner provided by law for foreclosure and liquidate any collateral provided under the loan agreement to recover any outstanding debt. Added by Acts 2003, 78th Leg., ch. 362, Sec. 1, eff. June 18, 2003. SUBCHAPTER EE. SMALL BUSINESS DISASTER RECOVERY LOAN PROGRAM