Tenn. Comp. R. & Regs. 0770-01-03-.04

Current through January 8, 2025

Section 0770-01-03-.04 - CLASS II BUILDERS

To be qualified as a Class II Builder by the Agency, a builder must:

(1) Have a HUD rating of 100, current within two (2) years, or have met the performance goals under the most recent Reservation of Funds Programs for builders.

(2) Have previous FHA/VA building

(3) Have a net worth of at least $100,000 supported by a current financial statement. This statement is subject to verification by the Agency which may require an audit.

(4) Submit a current letter from a financial institution or institutions indicating construction funds will be made available to the Builder.

Tenn. Comp. R. & Regs. 0770-01-03-.04

Original rule filed August 15, 1979, effective September 28, 1979. Amendment filed December 7, 1980; effective February 11, 1981.

Authority: T.C.A. §13-2315 (18).