261A.10 - ACQUISITION OF MONEYS, ENDOWMENTS, PROPERTIES, AND GUARANTEES. - Iowa Statutes

261A.10 ACQUISITION OF MONEYS, ENDOWMENTS, PROPERTIES, AND GUARANTEES. The authority may establish guidelines relating to the deposits of moneys, endowments, or properties by institutions which would provide prudent security for education loan funding programs, authority loans, education loans, or for obligations and may establish guidelines relating to guarantees of or contracts to purchase education loans or obligations by the institutions or by financial institutions or others. A default reserve fund may be established for each series or issue of obligations. The authority may receive moneys, endowments, properties, and guarantees it deems appropriate and, if necessary, may take title in the name of the authority or in the name of a participating institution or a trustee.          Section History: Early Form [82 Acts, ch 1031, § 10] Referred to in § 261A.24