Official Code of Georgia Annotated

Title 36. LOCAL GOVERNMENT · Chapter 82. BONDS · Article 8. GEORGIA ALLOCATION SYSTEM

36-82-200. Mortgage credit certificate carryforward election.

Active

Current through: Including Acts of the 2025 Session of the General Assembly of Georgia.

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.

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

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.

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 L. 1990, p. 817, § 1, effective April 4, 1990, repealed former Code Section 36-82-200, which was based on Ga.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.

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Current through: Including Acts of the 2025 Session of the General Assembly of Georgia.

Text read from t36-ch60-92-(v27a)-2025-pdf.pdf, Volume V27A, 2025 edition, page 558; merge action: bound only; file SHA-256 5150ee8c60f7.