2013 Iowa Code
TITLE VII EDUCATION AND CULTURAL AFFAIRS
SUBTITLE 3 HIGHER EDUCATION
CHAPTER 261 COLLEGE STUDENT AID COMMISSION
261.43A Security interest in education loans.


IA Code § 261.43A (through 2013) What's This?

261.43A Security interest in education loans.

A nonprofit organization qualifying for tax-exempt status under the Internal Revenue Code, as defined in section 422.3, that provides or acquires education loans in the organization s normal course of business shall, notwithstanding any contrary provision of chapter 554 or other state law, establish and perfect a security interest and establish priority over other security interests in such education loans by filing in the same manner as provided for perfecting a security interest in a student loan pursuant to 20 U.S.C. § 1082(m)(1)(E). This section applies to education loans provided under this chapter by such nonprofit organizations and other education loans provided by such nonprofit organizations.

2002 Acts, ch 1021, §1

DIVISION IV

GUARANTEED LOAN PAYMENT PROGRAM

Disclaimer: These codes may not be the most recent version. Iowa may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.