2010 Tennessee Code
Title 13 - Public Planning And Housing
Chapter 22 - Housing Rehabilitation
13-22-108 - Reports Examinations.

13-22-108. Reports Examinations.

(a)  Each state officer and department shall render assistance and services as may be requested by the agency in aid of its functions.

(b)  The agency shall file with the commissioner of finance and administration, the governor, and the general assembly within one hundred twenty (120) days after the end of its fiscal year, a report of its operations, receipts and expenditures during the year, its assets and liabilities (including a schedule of outstanding insurance) as of the end of such year, and such additional information as the commissioner shall request. This report shall be open to public inspection.

(c)  The comptroller of the treasury may from time to time, and shall at least once every two (2) years, examine the books and accounts of the agency. Subject to agreements with policyholders or mortgage holders, such funds as are available to the agency for the payment of administrative expenses shall be deposited in the state treasury to ensure that the administrative operation of the agency is conducted in a manner consistent with state agencies. Nothing in this chapter shall be construed as requiring the agency to act contrary to requirements for mortgage insurers established by the Federal National Mortgage Association or by the Federal Home Loan Mortgage Corporation, or as affecting the reserve funds of the agency.

(d)  All moneys of the agency, except as otherwise authorized or provided in this chapter, shall be deposited as soon as practicable in a separate account or accounts in banks, trust companies or savings and loan associations organized under the laws of the state or the United States and doing business in the state. The moneys in such accounts shall be paid out on checks signed by such officer or employee of the agency as the agency shall authorize. All accounts shall be insured by an agency of the United States government and moneys of the agency shall be deposited in such accounts only to the extent of deposit insurance for public funds.

(e)  The state treasurer, who shall serve as treasurer of the agency, shall invest any funds not required for immediate use or disbursement, including any funds held in reserve, according to the procedures and requirements set forth in law.

(f)  Subject to agreements with policyholders or mortgage holders, the annual budget of the agency shall be prepared in accordance with title 9, chapter 6.

[Acts 1973, ch. 313, § 8; 1974, ch. 579, § 5; 1975, ch. 339, § 6; 1976, ch. 797, § 1; T.C.A., § 13-2208; Acts 1988, ch. 901, § 4.]