Tenn. Comp. R. & Regs. 0770-01-03-.05

Current through January 8, 2025

Section 0770-01-03-.05 - CLASS III BUILDERS

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

(1) Have a net worth of at least $50,000 supported by a current financial statement. This statement is subject to verification by the Agency which may require an audit.

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

Tenn. Comp. R. & Regs. 0770-01-03-.05

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).