261.41 - ACCOUNT DISSOLVED -- BALANCE TO GENERAL FUND. - Iowa Statutes

261.41 ACCOUNT DISSOLVED -- BALANCE TO GENERAL FUND. The loan program and the loan reserve account established by this division shall not be dissolved until all guaranteed loans have been repaid by the borrower or, if in default, by the commission. Upon dissolution of the loan program, all the property and moneys of the program and in the loan reserve account not owed to the federal government shall be transferred to the state general fund.          Section History: Early Form [C79, 81, § 261.41]