After the executive administrator has executed a linked deposit agreement, the executive administrator shall:

1. (1) at the next available board meeting and each month thereafter, provide a report to the board that:

   1. (A) identifies all linked deposit agreements; and
   2. (B) the status of the loans made by lending institutions; and
2. (2) in the event of noncompliance on the part of an eligible lending institution, inform the Texas comptroller of public accounts of the noncompliance and include information regarding the noncompliance in the monthly report to the board.

Source Note:The provisions of this §367.19 adopted to be effective July 6, 2004, 29 TexReg 6348.