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.
Authority: T.C.A. §13-2315 (18). Original rule filed August 15, 1979, effective September 28, 1979. Amendment filed December 7, 1980; effective February 11, 1981