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Court OpinionsState LawsAlabama US Code1 USC - General Provisions US Constitution |
Texas Education Code - Chapter 57 Guaranteed Student LoansLegal Research Home > Texas Laws > Education Code > Texas Education Code - Chapter 57 Guaranteed Student Loans The legislature, giving due consideration to the historical and continuing interest of the people of the State of Texas in encouraging deserving and qualified persons ... In this chapter: (1) "Board" means the board of directors of the corporation. (2) "Corporation" means the Texas Guaranteed Student Loan Corporation. (3) "Postsecondary educational ... (a) The Texas Guaranteed Student Loan Corporation is created to administer the programs authorized by this chapter. The corporation is a public nonprofit corporation and, ... (a) The Texas Guaranteed Student Loan Corporation is subject to Chapter 325, Government Code (Texas Sunset Act). Unless continued in existence as provided by that ... (a) The corporation is governed by a board of 11 directors in accordance with this section. (b) The governor, with the advice and consent of ... (a) In this section, "Texas trade association" means a cooperative and voluntarily joined statewide association of business or professional competitors in this state designed to ... (a) A person who is appointed to and qualifies for office as a member of the board may not vote, deliberate, or be counted as ... Members of the board appointed by the governor serve for terms of six years, with the terms of three or four members, as applicable, expiring ... (a) It is a ground for removal of an appointed member from the board that the member: (1) does not have at the time of ... (a) A member of the board vacates the office if the member ceases to be a member of the field from which he or she ... Members of the board serve without compensation but are entitled to reimbursement for actual and necessary expenses in attending meetings of the board or performing ... The board shall elect from among its members a chairman, vice-chairman, and other officers that the board considers necessary. The chairman and vice-chairman serve for ... (a) The board may meet as often as necessary, but shall meet at least twice a year. (b) The board shall develop and implement policies ... (a) The board shall appoint a president to serve as chief executive officer in administering the corporation and carrying out the policies of the board. ... (a) The corporation shall maintain a system to promptly and efficiently act on complaints filed with the corporation. The corporation shall maintain information about parties ... (a) The corporation shall take an active role in coordinating, facilitating, promoting, and providing assistance and support to: (1) programs designed to make available to ... The board shall implement a policy requiring the corporation to use appropriate technological solutions to improve the corporation's ability to perform its functions. The policy ... The corporation may support educational purposes with the approval of the board. Added by Acts 1999, 76th Leg., ch. 967, § 4, eff. June 18, ... (a) The corporation is subject to the Texas Non-Profit Corporation Act (Article 1396-1.01 et seq., Vernon's Texas Civil Statutes), except that: (1) the corporation may ... Liabilities created by the corporation are not debts of the state and the corporation may not secure any liability with funds or assets of the ... (a) The corporation may participate in a revenue-generating activity that is consistent with the corporation's purposes if the board determines that the revenue from the ... (a) The corporation shall guarantee loans made to eligible borrowers by eligible lenders as provided by the federal guaranteed student loan program under the Higher ... The corporation may enter into an agreement with the United States Department of Education for reinsurance against loss under the loan program due to death, ... The corporation may impose and collect insurance premiums from eligible borrowers in an amount not to exceed the maximum allowable under the Higher Education Act ... (a) In order to be eligible for a loan to be guaranteed under this chapter, a person must be an eligible borrower as provided under ... (a) In order to qualify as an eligible lender under this subchapter, the lender must: (1) be an eligible lender for purposes of the Higher ... (a) In order to qualify as an eligible institution under this subchapter, a postsecondary educational institution must: (1) be an eligible institution for purposes of ... (a) The corporation shall establish: (1) an advisory committee that is composed of 15 members who represent the postsecondary educational institutions that participate in the ... (a) If a student borrower defaults on a loan and the corporation is required to honor the guarantee, the corporation or the Texas Higher Education ... In any case under Section 57.47 of this code, the court may refer the case to a master in chancery. All matters relating to the ... (a) Except as provided by Subsection (g), the corporation shall report to the comptroller the name of any person who is in default on a ... (a) In this section, "loan default rate" means the rate at which student borrowers default on loans guaranteed by the corporation as determined by the ... (a) A state agency, as a ministerial duty, may not use funds inside or outside the state treasury to pay a person or the person's ... Each agency and political subdivision of the state shall cooperate with the corporation in providing information to the agency's or political subdivision's clients concerning student ... (a) In this section: (1) "License" means a certificate or similar form of permission issued or renewed by a licensing agency and required by law ... Neither the corporation nor an eligible lender may discriminate against an eligible student in making a loan or loan guarantee on the basis of race, ... The corporation shall establish reserve and operating funds in accordance with Section 422 of the Higher Education Act of 1965 (20 U.S.C. Section 1072), as ... All income, property, and other assets of the corporation are exempt from taxation by the state and political subdivisions of the state. Added by Acts ... (a) At least once each year the corporation shall have a fiscal audit performed by a certified public accountant. (b) A copy of the annual ... (a) The board shall appoint an internal auditor for the corporation. The internal auditor serves at the will of the board, and the internal auditor's ... (a) The corporation annually shall prepare a written report on the financial and program operations of the corporation. The report shall include the audited financial ... All money of the corporation may be invested in accordance with Chapter 2256, Government Code. Added by Acts 1979, 66th Leg., p. 1711, ch. 706, ... Last modified: August 11, 2007 |
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