13-22-110 - Maximum aggregate amount. - Tennessee Statutes

13-22-110. Maximum aggregate amount.

The agency shall not issue a commitment to insure or a contract of mortgage insurance, at any time, if upon issuance thereof the sum of the insured amounts under the agency's outstanding mortgage insurance contracts and the amounts to be insured under the agency's outstanding commitments to insure mortgages will exceed twenty (20) times the moneys held in or credited to the mortgage insurance fund pursuant to § 13-22-105(a).

[Acts 1973, ch. 313, § 10; 1975, ch. 339, § 8; T.C.A., § 13-2210; Acts 1988, ch. 901, § 4.]