§ 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 […]
§ 4-31-801. Short Title
This chapter shall be known and cited as the “Tennessee Insurance Guaranty Association Bond Act of 1995.”
§ 4-31-802. Legislative Findings and Declarations
The general assembly finds and declares that if a natural disaster, as defined herein, causes, in whole or in part, an insolvency resulting in covered claims in excess of the association’s capacity to pay from the assessments under § 56-12-107(a)(3), it is proper to authorize the authority to issue bonds to expedite the handling and […]
§ 4-31-704. Issuance and Sale of Bonds and Notes — Loans — Authorization
In addition to the powers otherwise granted by law, the authority has the power and is authorized to issue and sell bonds and notes, the proceeds of which may be used to make loans to any grantee for the construction or the refinancing of the construction of a facility pursuant to a loan agreement between […]
§ 4-31-705. Repayment of Loans
The authority shall establish a repayment schedule to be made by a grantee under a loan agreement. Such repayments shall be in such amounts as will be at least sufficient, together with other funds available therefor, to pay the principal of, and interest on, authority bonds and notes issued for the purpose of providing loans […]