O.C.G.A.

O.C.G.A. § 36-82-200 (2019)

Mortgage credit certificate carryforward election

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)

Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.

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No issuer of single-family housing bonds may elect to exchange any part of a notice of allocation for mortgage credit certificates without the written authorization of the department. Such authorization shall be in the discretion of the commissioner, and no issuer shall have any right to such authorization. Any unused amount of the state ceiling remaining on the last business day of each year and not subject to a notice of allocation shall automatically be exchanged for mortgage credit certificates carryforward elections in such amounts and to such issuers as the department may determine. Applications for mortgage credit certificates for carryforward purposes shall be on the same forms and accompanied by the same items as required by Code Section 36-82-199.

History

Code 1981, § 36-82-207, enacted by Ga. L. 1987, p. 486, § 1; Code 1981, § 36-82-200, as redesignated by Ga. L. 1990, p. 817, § 1.

Annotations

Editor’s notes. - Ga. L. 1990, p. 817,

§ 1, effective April 4, 1990, repealed former Code Section 36-82-200, which was based on Ga. L. 1987, p. 486, § 1, and which related to applications for notices of allocation from the farm loan pool.