0770-01-01-.10
Purchase Of Agency Obligations Not Required
Cite as Tenn. Comp. R. & Regs. 0770-01-01-.10
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.