20-A §11503. Student loan corporations authorized - Maine Statutes

Title 20-A: EDUCATION

Part 5: POST-SECONDARY EDUCATION

Chapter 418: STUDENT LOAN CORPORATIONS

§11503. Student loan corporations authorized

Any institution or consortium of institutions for higher education may form a voluntary nonprofit student loan corporation in accordance with this chapter for the purposes specified in this chapter. An institution for higher education may form a student loan corporation either: [1983, c. 422, §21 (NEW).]

1. Organizing new student loan corporation. By organizing a new voluntary nonprofit student loan corporation as provided in this chapter; or

[ 1983, c. 422, §21 (NEW) .]

2. By amending the articles of incorporation and bylaws of an existing nonprofit corporation organized under Title 13-B, or its predecessors, to conform the articles and bylaws to the requirements of this chapter.

[ 1983, c. 422, §21 (NEW) .]

SECTION HISTORY

1983, c. 422, §21 (NEW).