2010 Maine Code
TITLE 20-A: EDUCATION
Chapter 417-A: MAINE EDUCATIONAL LOAN AUTHORITY
20-A §11432. Termination of existence of authority
Part 5: POST-SECONDARY EDUCATION
§11432. Termination of existence of authority
The authority in its corporate existence shall continue until terminated by law but no law terminating its existence shall take effect as long as any bonds of the authority are outstanding and unpaid without adequate provision for payment having been made. Upon termination of its existence, all rights, privileges and property of the authority shall pass to and be vested in the State or such entity as the State by proper act shall designate. [1987, c. 807, §3 (NEW).]
SECTION HISTORY
1987, c. 807, §3 (NEW).
Disclaimer: These codes may not be the most recent version. Maine 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.
