§ 4-31-804. Issuance of Bonds — Limitations on Bond Amounts — Source of Funds
The authority may issue bonds in an amount not to exceed the ability of the association to repay the bond indebtedness from assessments assessed pursuant to §§ 56-12-103(3) and 56-12-107(b)(3), with the proceeds of such bond issuance to fund a loan to the association in accordance with the provisions of the bond documents under which […]
§ 4-31-805. Review by Commissioner of Commerce and Insurance
Prior to the issuance of bonds to pay covered claims in the event of an insolvency, the commissioner of commerce and insurance shall recommend the amount of unpaid covered claims to be paid from the bond issuance. In making its recommendation, the commissioner shall review whether the amount of assessments proposed by the association could […]
§ 4-31-806. Negotiable Bonds and Notes
For the purpose of providing moneys to fund loans authorized by this part, the authority, in addition to the powers otherwise created by law, has the power and is hereby authorized to issue from time to time negotiable bonds and notes of the authority in accordance with the following terms: The authority shall establish a […]
§ 4-31-807. Administration of Loans
The authority shall administer loans made under this part. In so doing, the authority may adopt rules and regulations necessary for the effective administration of this part, including the promulgation of prerequisites that must be fulfilled by the association in order to be eligible for a loan, procedures to be followed in making loan applications […]
§ 4-31-808. Loan Agreements
Any loan agreement may include such provisions as may be agreed upon by the authority and the association and shall include, in substance, the following: The amount of the loan as determined by the authority; and An agreement by the association to: Proceed expeditiously with and complete payment of the claims in accordance with the […]
§ 4-31-809. Approval of Agreements — Audits
All loan agreements entered into pursuant to this part shall be subject to approval by the attorney general and reporter as to form and by the commissioner of finance and administration; all payments made pursuant to such loan agreement shall be approved by the authority, as to funding. All payments made to the association under […]
§ 4-31-810. Requirements and Procedure
The bonds and notes for claims payment shall be authorized by resolution of the authority, may be in one (1) or more series, shall bear such date or dates, and shall mature at such time or times, in the case of any such note or any renewals thereof, not exceeding eight (8) years from the […]
§ 4-31-811. Tennessee Insurance Guaranty Association Fund
The authority is hereby authorized to establish in the state treasury a special trust fund of the authority to be known as the “Tennessee insurance guaranty association fund.” The state hereby covenants and agrees that from and after the issuance of any bonds or notes under and pursuant to this part, moneys derived by the […]
§ 4-31-812. Powers of the Authority
The authority has the right, in addition to all other rights, by mandamus or other suit, action or proceeding in any court of competent jurisdiction, to require the association and the board of directors and any proper officer, agent or employee of the association to carry out any agreements and to perform its and their […]
§ 4-31-709. Enforcement
The authority has the right, in addition to all other rights, by appropriate suit, action or proceeding in any court of competent jurisdiction, to require the grantee, its governing body, or any proper officer, agent or employee to carry out any agreements and to perform its and their duties under this part or under any […]