Sec. 10a-241. Institutions of higher education authorized to take necessary action. Rate of interest. - Connecticut Statutes

      Sec. 10a-241. Institutions of higher education authorized to take necessary action. Rate of interest. (a) Notwithstanding any other provision of law, any participating institution for higher education shall have the power to borrow money from the authority, make education loans and take all other actions and do such things as are necessary or convenient to consummate the transactions contemplated under this chapter.

      (b) Notwithstanding the provisions of sections 37-4 and 37-6, it shall be lawful: (1) For the authority to establish, charge, contract for and receive any amount or rate of interest or compensation with respect to authority loans or education loans; (2) to make authority loans or education loans at a rate of interest which may, during the life of such loans, be varied or revised upon such terms or conditions as may be established by the authority; and (3) for any Connecticut institution for higher education to charge, contract for and receive any amount or rate of interest or compensation, including amounts or rates of interest which may be varied or revised upon such terms or conditions as may be established by the institution, with respect to education loans.

      (P.A. 82-313, S. 21, 28; P.A. 87-295, S. 7, 8.)

      History: P.A. 87-295 in Subdiv. (3) of Subsec. (b) substituted "Connecticut institution for" for "institution of".