Tennessee § 4-31-808 - Loan agreements.
Full text of Tennessee Tennessee Code Annotated § 4-31-808 — Loan agreements., with citation guidance and answers to common questions.
§ 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 loan agreement approved pursuant to this part; Pledge any assessments and make payments according to the repayment schedule established by the authority; and Establish and maintain adequate financial records for the payment of claims, cause to be made an annual audit of the financial records and transactions covering each fiscal year in accordance with generally accepted accounting principles, and furnish a copy of such audits to the comptroller of the treasury. In addition to the foregoing, the authority shall administer loans made under this part only after it has determined that the association has the ability to repay the amount loaned. Acts 1995, ch. 240, § 1.
Frequently Asked Questions About Tennessee § 4-31-808
What does Tennessee Code Annotated § 4-31-808 cover?
Section 4-31-808 ("Loan agreements.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Tennessee § 4-31-808?
A common citation format is "Tennessee Code Annotated § 4-31-808" (Tennessee). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 4-31-808 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Tennessee.