Tennessee Statutes
§ 13-23-309 — Persons to benefit from loans - Interest
Tennessee·Title 13
(a)Any loans to borrowers, including interest earned on investment of repayments of such loans, by any participating county, shall be used to benefit low and moderate income individuals or families residing within such county during its participation in the loan fund pool. All such interest repayments shall be added to the loan fund pool and deposited in the local financial depository designated by the administrating county or with THDA in cases where local counties opt for THDA administration of their respective loan fund pools.
(b)Interest earned on investment of repayments of the local portion of the loan fund pool shall be allocated solely to the county from which such portion is derived, and such interest earnings shall be included in determining the respective amount of the local p
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Tennessee § 13-23-309 (Persons to benefit from loans - Interest) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Acts 1985, ch. 473, § 9; 1986, ch. 510, § 9.
Nearby Sections
15
§ 13-10-101
Chapter definitions§ 13-10-102
Functions of commissioner§ 13-10-104
Authority of commissioner to inspect property and records and conduct investigations and hearings§ 13-10-107
State financial assistance - Contingencies§ 13-10-109
Financial assistance - Approved sources§ 13-10-201
Responsibility for implementation§ 13-10-202
Financial and legal independence§ 13-10-203
Enforcement authority§ 13-10-204
Confidentiality of information§ 13-10-205
Audits and reporting§ 13-10-206
Authority to adopt policies and regulations§ 13-11-101
Short title§ 13-11-102
Purpose§ 13-11-103
Chapter definitions