A lender may submit an application on behalf of an applicant if the applicant meets the following requirements:

1. (1) is a United States citizen and a resident of the State of Texas;
2. (2) provides evidence that the applicant's farm, ranch, or agriculture-related business is or will be located within the state; and
3. (3) provides evidence of acceptable equity in the project in accordance with the commercial lender's underwriting standards.

Source Note:The provisions of this §28.24 adopted to be effective September 1, 2009, 34 TexReg 5902.