1450-01-.04
Management Of Fund
Cite as Tenn. Comp. R. & Regs. 1450-01-.04
(1)
The Agency is responsible for ensuring that the Fund is sufficiently funded.
(2)
The Agency may enter into an Inter-Agency Agreement with the Division under which the
Agency may pay the Division for Fund management services, and the responsibilities of each
party shall be set forth in the Inter-Agency Agreement.
(3)
The Agency shall:
(a)
Approve and deny applications for Loans from the Fund;
(b)
Determine the term limits of the Loans;
(c)
Determine the interest rate of the Loans;
(d)
Work with Borrowers and the Division if adjusted payment schedules are needed; and
RESILIENT TENNESSEE REVOLVING LOAN FUND ACT
CHAPTER 1450-01
(e)
Close out the Loans.