A borrower may apply to the committee for a loan guaranty necessary to meet the lender's approval of the loan. The borrower must demonstrate his inability to obtain conventional financing, and thus the need for the state loan guaranty.Codes, 1942, § 8940-135; Laws, 1972, ch. 441, § 5; Laws, 1995, ch. 548, § 1, eff. 4/6/1995.
Mississippi Legal Code