2014 US Code
Title 42 - The Public Health and Welfare (Sections 1 - 18445)
Chapter 6A - Public Health Service (Sections 201 - 300mm-61)
Subchapter V - Health Professions Education (Sections 292 - 295p)
Part A - Student Loans (Sections 292 - 292y)
Subpart ii - Federally-Supported Student Loan Funds (Sections 292q - 292y)
Sec. 292x - Distribution of assets from loan funds
Publication Title | United States Code, 2012 Edition, Supplement 2, Title 42 - THE PUBLIC HEALTH AND WELFARE |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 42 - THE PUBLIC HEALTH AND WELFARE CHAPTER 6A - PUBLIC HEALTH SERVICE SUBCHAPTER V - HEALTH PROFESSIONS EDUCATION Part A - Student Loans subpart ii - federally-supported student loan funds Sec. 292x - Distribution of assets from loan funds |
Contains | section 292x |
Date | 2014 |
Laws In Effect As Of Date | January 5, 2015 |
Positive Law | No |
Disposition | standard |
Source Credit | July 1, 1944, ch. 373, title VII, §728, as added Pub. L. 102-408, title I, §102, Oct. 13, 1992, 106 Stat. 2021. |
Statutes at Large Reference | 106 Stat. 2021 |
Public and Private Law | Public Law 94-484, Public Law 102-408 |
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If a school terminates a loan fund established under an agreement pursuant to section 292q(b) of this title, or if the Secretary for good cause terminates the agreement with the school, there shall be a capital distribution as follows:
(1) The Secretary shall first be paid an amount which bears the same ratio to such balance in such fund on the date of termination of the fund as the total amount of the Federal capital contributions to such fund by the Secretary pursuant to section 292q(b)(2)(A) of this title bears to the total amount in such fund derived from such Federal capital contributions and from funds deposited therein pursuant to section 292q(b)(2)(B) of this title.
(2) The remainder of such balance shall be paid to the school.
(b) Payment of proportionate share to SecretaryIf a capital distribution is made under subsection (a) of this section, the school involved shall, after the capital distribution, pay to the Secretary, not less often than quarterly, the same proportionate share of amounts received by the school in payment of principal or interest on loans made from the loan fund established pursuant to section 292q(b) of this title as was determined by the Secretary under subsection (a) of this section.
(July 1, 1944, ch. 373, title VII, §728, as added Pub. L. 102–408, title I, §102, Oct. 13, 1992, 106 Stat. 2021.)
PRIOR PROVISIONSA prior section 728 of act July 1, 1944, was classified to section 294a of this title prior to the general revision of this subchapter by Pub. L. 102–408.
Another prior section 728 of act July 1, 1944, was classified to section 293h of this title prior to renumbering by Pub. L. 94–484.
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