Sec. 56.005. RESCISSION OF ACTION. A licensing authority may rescind any action taken under Section 56.003 on the receipt of information from an administering entity that the person against whom the action was taken has:
(1) entered into an agreement with the administering entity to:
(A) repay the student loan;
(B) perform the service obligation; or
(C) pay any damages required by the student loan repayment contract or scholarship contract; or
(2) taken other action resulting in the person no longer being in default on the student loan or in breach of the student loan repayment contract or scholarship contract.
Added by Acts 2001, 77th Leg., ch. 512, Sec. 1, eff. June 11, 2001.
Section: Previous 56.001 56.002 56.003 56.004 56.005Last modified: September 28, 2016