- (a) There is appointed by the commissioners court of each county a committee of three resident real property owners. Upon application for a loan through the Veterans Land Program, each applicant shall also submit a copy of his or her application to the county committee in the county in which the land is located. This committee shall consider the forms and submit a report to the board as to the amount the committee considers to be the reasonable value of the land in question, the financial responsibility and credit rating of the veteran applicant, if known, and a statement of opinion as to whether or not the transaction is bona fide.
- (b) If the property which the veteran applicant wishes to purchase is in a county different from the veteran applicant's home county, the chairman of the board, executive secretary, or assistant executive secretary, may also require each applicant to submit a copy of his or her application to the county committee in the county in which the veteran resides, for review. This committee shall submit a report concerning the financial responsibility and credit rating of the veteran applicant, if known, and a statement of opinion as to whether or not the transaction is bona fide.
- (c) Should the county committee in any county be nonfunctioning, or should a county committee fail to submit its report to the board within a reasonable length of time, the chairman, executive secretary, or assistant executive secretary may waive the requirement of receiving said report.
Source Note:The provisions of this §175.23 adopted to be effective August 18, 1992, 17 TexReg 5460.