Rules & Regulations of the State of Tennessee
Title 0770 - Housing Development
Chapter 0770-04-02 - Homeownership Program
Section 0770-04-02-.27 - TERMINATION OF PARTICIPATION

Universal Citation: TN Comp Rules and Regs 0770-04-02-.27
Current through September 24, 2024

Any county may opt to terminate its participation in the loan fund pool by giving at least (3) months notice to THDA prior to the expiration of any twelve (12) month term of operation of the loan fund pool. Any such termination shall be without prejudice as regards participation of such terminating county in any subsequent twelve (12) month term of the loan fund pool. However, such terminating county's allocation of interest earnings on repayments shall revert to the loan fund pool and shall be utilized for the purposes described in the Act. Acceptance of any new application by such terminating county during any subsequent twelve (12) month term of operation of the loan fund pool shall not be deemed to be a forgiveness of the interest forfeiture mandated by this rule.

Authority: Public Acts of 1986, Chapter 510.

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