* § 11. Allocation carryforward. 1. No local agency or other issuer
shall make a carryforward election utilizing any unused allocation
(pursuant to section 146(f) of the code) without the prior approval of
the commissioner. Likewise no state agency shall make or file such an
election, or elect to issue or carry forward mortgage credit
certificates, without the prior approval of the director.

2. On or before November fifteenth of each year, each state agency
seeking unused statewide ceiling for use in future years shall make a
request for an allocation for a carryforward to the director, whose
approval shall be required before a carryforward election is filed by or
on behalf of any state agency. A later request may also be considered by
the director, who may file a carryforward election for any state agency
with the consent of such agency.

3. On or before November fifteenth of each year, each local agency or
other issuer seeking unused statewide ceiling for use in future years
shall make a request for an allocation for a carryforward to the
commissioner, whose approval shall be required before a carryforward
election is filed by or on behalf of any local or other agency. A later
request may also be considered by the commissioner.
* NB Repealed January 1, 1991