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2024 Indiana Code
Title 21. Higher Education
Article 16. Earn Indiana Program; Student Loans; Legal Capacity to Contract for Student Loans
Chapter 5. Secondary Market for Guaranteed Student Loans
21-16-5-1. Secondary Market for Guaranteed Student Loans; Establishment of Corporation

Universal Citation:
IN Code § 21-16-5-1 (2024)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
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Sec. 1. The governor may request, on behalf of the state, the establishment of a private nonprofit corporation, with a bipartisan board of directors that meets the requirements of section 1.5 of this chapter, to serve as a secondary market for education loans. If a private nonprofit corporation is established, the governor may designate the corporation to:

(1) serve as the secondary market for education loans; and

(2) act as an eligible lender under a federal program.

The corporation must satisfy the conditions imposed by sections 3 through 10 of this chapter, and its articles of incorporation must provide that upon the corporation's liquidation, any surplus funds must be paid to the state.

[Pre-2007 Higher Education Recodification Citation: 20-12-21.2-2(a).]

As added by P.L.2-2007, SEC.257. Amended by P.L.224-2023, SEC.6.

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