California Education Code ARTICLE 2.4 - Maximizing the Value of the State Student Loan Guarantee Program Assets and Liabilities

  • Section 69521.
    (a) The Legislature finds and declares both of the following:(1) The student loan guarantee business is not a core mission of government. Recognition of this fact led,...
  • Section 69521.2.
    For the purposes of this article, all of the following definitions apply:(a) “Auxiliary organization” means the organization established pursuant to Article 2.5 (commencing with Section 69522).(b) “Director”...
  • Section 69521.3.
    (a) The Director of Finance is hereby authorized to act as agent for the state and, in that capacity, to sell the state student loan guarantee...
  • Section 69521.4.
    (a) If, after seeking the advice of, and in active participation with, the Treasurer, the Director of Finance determines that an alternative arrangement to the sale...
  • Section 69521.5.
    (a) The Director of Finance is authorized to take all actions that he or she deems to be necessary or convenient to accomplish any of the...
  • Section 69521.6.
    Notwithstanding any other provision of law, neither the approval of the Attorney General nor of the Director of General Services is required for the execution...
  • Section 69521.7.
    The state student loan guarantee program assets and liabilities shall be transferred to the transferee guarantee agency upon the completion of any sale pursuant to...
  • Section 69521.8.
    (a) The Director of Finance shall deposit all proceeds of any sale of, or any funds achieved through any other arrangement to maximize the value of,...
  • Section 69521.9.
    (a) Notwithstanding any other provision of law, the Director of Finance is authorized to enter into an agreement with a firm or individual to act as...
  • Section 69521.10.
    (a) The Director of Finance, in consultation with the Treasurer, shall select a firm or individual to provide advisory services based on demonstrated competence and professional...
  • Section 69521.11.
    (a) The Director of Finance shall notify the Joint Legislative Budget Committee in writing upon his or her determination that neither the sale nor any other...

Last modified: October 22, 2018