Rules & Regulations of the State of Tennessee
Title 0770 - Housing Development
Chapter 0770-01-01 - General Provisions
Section 0770-01-01-.10 - PURCHASE OF AGENCY OBLIGATIONS NOT REQUIRED

No person (as that term is defined in §7701 (a) (1) of the Internal Revenue Code of 1954, as amended) or related person (as that term is defined in §103 (c) (6) (C) of the Internal Revenue Code of 1954, as amended) from whom the Agency may acquire Eligible Mortgages, as that term is defined in the Housing Bond Resolution (Mortgage Finance Program) adopted by the Agency on November 20, 1974, shall be required by the Agency pursuant to an agreement, formal or informal, to purchase the Agency's Mortgage Finance Program Bonds, in an amount related to the amount of Eligible Mortgages to be acquired from such person by the Agency.

Authority: T.C.A. § 13-23-115(18).