2012 US Code
Title 20 - Education
Chapter 28 - HIGHER EDUCATION RESOURCES AND STUDENT ASSISTANCE (§§ 1001 - 1161aa-1)
Subchapter IV - STUDENT ASSISTANCE (§§ 1070 - 1099e)
Part B - Federal Family Education Loan Program (§§ 1071 - 1087-4)
Section 1086 - Delegation of functions
| Publication Title | United States Code, 2012 Edition, Title 20 - EDUCATION |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 20 - EDUCATION CHAPTER 28 - HIGHER EDUCATION RESOURCES AND STUDENT ASSISTANCE SUBCHAPTER IV - STUDENT ASSISTANCE Part B - Federal Family Education Loan Program Sec. 1086 - Delegation of functions |
| Contains | section 1086 |
| Date | 2012 |
| Laws in Effect as of Date | January 15, 2013 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Pub. L. 89-329, title IV, §436, as added Pub. L. 99-498, title IV, §402(a), Oct. 17, 1986, 100 Stat. 1413; amended Pub. L. 105-244, title IV, §430, Oct. 7, 1998, 112 Stat. 1709. |
| Statutes at Large References | 80 Stat. 1244 82 Stat. 1024 90 Stat. 2132 94 Stat. 1503 100 Stat. 1413 112 Stat. 1709 |
| Public Law References | Public Law 89-329, Public Law 89-752, Public Law 90-575, Public Law 94-482, Public Law 96-374, Public Law 99-498, Public Law 105-244 |
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An eligible lender or guaranty agency that contracts with another entity to perform any of the lender's or agency's functions under this subchapter and part C of subchapter I of chapter 34 of title 42, or otherwise delegates the performance of such functions to such other entity—
(1) shall not be relieved of the lender's or agency's duty to comply with the requirements of this subchapter and part C of subchapter I of chapter 34 of title 42; and
(2) shall monitor the activities of such other entity for compliance with such requirements.
(b) Special ruleA lender that holds a loan made under this part in the lender's capacity as a trustee is responsible for complying with all statutory and regulatory requirements imposed on any other holder of a loan made under this part.
(Pub. L. 89–329, title IV, §436, as added Pub. L. 99–498, title IV, §402(a), Oct. 17, 1986, 100 Stat. 1413; amended Pub. L. 105–244, title IV, §430, Oct. 7, 1998, 112 Stat. 1709.)
Prior ProvisionsA prior section 1086, Pub. L. 89–329, title IV, §436, as added Pub. L. 89–752, §12, Nov. 3, 1966, 80 Stat. 1244; amended Pub. L. 90–575, title I, §116(b)(5), Oct. 16, 1968, 82 Stat. 1024; Pub. L. 94–482, title I, §127(a), Oct. 12, 1976, 90 Stat. 2132; Pub. L. 96–374, title XIII, §1391(a)(1), Oct. 3, 1980, 94 Stat. 1503, related to a District of Columbia student loan insurance program, prior to the general revision of this part by Pub. L. 99–498.
Amendments1998—Pub. L. 105–244 amended section catchline and text generally. Prior to amendment, section authorized establishment of a District of Columbia student loan insurance program.
Effective Date of 1998 AmendmentAmendment by Pub. L. 105–244 effective Oct. 1, 1998, except as otherwise provided in Pub. L. 105–244, see section 3 of Pub. L. 105–244, set out as a note under section 1001 of this title.
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