173.105. Board and department duties--required federal reports, submitted to whom. - Missouri Statutes

Board and department duties--required federal reports, submittedto whom.

173.105. 1. The board shall determine the basic policiesfor the loan program and shall promulgate rules and regulationsnecessary to establish the loan program and to carry out thepurposes of sections 173.095 to 173.180. The basic policies ofthe board and all rules and regulations promulgated pursuant tosections 173.095 to 173.180 shall be designed to encouragemaximum involvement and participation by lenders and financialinstitutions in the student loan program. Lenders and financialinstitutions shall be encouraged by institutions of highereducation to maximize the number of loans available to students.It shall be the responsibility of the coordinating board forhigher education to establish guidelines and criteria forinstitutions of higher education for usage in maximizing theavailability of student loans. The department shall be theadministrative agency for the implementation of the program, andmay employ such personnel as is necessary, in excess of thenumber provided in subsection 2 of section 6 of the omnibus statereorganization act of 1974, to administer the provisions ofsections 173.095 to 173.230.

2. All reports relating to the program which are now or mayhereafter be required by the federal government shall also besubmitted to the director of the office of administration and tothe senate and house appropriations committees.

(L. 1978 H.B. 891, A.L. 1981 H.B. 326, A.L. 1993 S.B. 52, A.L. 1994 S.B. 583)