Tex. Gov't Code § 2306.270
Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
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.
Tex. Gov't. Code § 2306.270