Mass. Gen. Laws ch. 15C – Massachusetts College Student Loan Authority | Midpage

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Massachusetts General Laws

Chapter 15C

Mass. Gen. Laws ch. 15C

Massachusetts College Student Loan Authority

1Policy and purpose 2Short title 3Definitions 4Massachusetts educational financing authority; members; terms; meetings; surety bond; conflict of interest 5Purposes of authority; powers 5ACollege opportunity program; bonds; issuance; redemption; tuition agreements 5BPowers and duties of authority for implementation and administration of savings programs 5CComprehensive state-supported supplemental education loan program; development 6Payment of expenses 7Guidelines for deposits of monies, endowments, etc.; default reserve fund 8Conveyance of assets comprising loan funding deposits 9Negotiable notes; issuance; terms or conditions 10Revenue bonds, notes, or other obligations; issuance; authorization by resolution; resolution provisions; liability 11Trust agreements as security for revenue bonds or notes; provisions of trust agreements 12Payment of bonds or notes; liability of commonwealth 13Fees; contracts; pledge of revenues; sinking fund 14Monies received; trust funds 14AState colleges and universities participation fund 14BCollege opportunity fund; purposes; pledges 15Holders of revenue bonds, notes, or other obligations, and trustees; enforcement of rights; compelling performance of duties of authority 16Exercise of powers for benefit of commonwealth; tax exempt status 17Refunding of outstanding revenue bonds or notes; investment and reinvestment of proceeds; additional loans 18Investment of funds by authority 19Bonds as investment securities 20Report of authority; audit 21Powers of participating higher education institutions; interest rates 22Employees; social security; security interests in revenues and receipts; priority 22ACivil actions; liability, losses, expenses; insurance; limitation of actions 23Powers granted supplemental and additional to other laws; supervision or regulation of powers 24New England Education Loan Marketing Corporation as separate entity 25Construction of law 26Bankruptcy of borrower 27Rights and properties of Authority upon dissolution, liquidation or other termination 28Severability 29Achieving a better life experience program; ABLE account; qualified disability expenses; annual report