§ 45-38.1-25 - Institution for higher education powers. - Rhode Island Statutes

SECTION 45-38.1-25

   § 45-38.1-25  Institution for highereducation powers. – Notwithstanding any other provision of law, any participating institution forhigher education has the power to borrow money from the corporation, makeeducation loans, and take all other actions and do those things that arenecessary or convenient to consummate the transactions contemplated under thischapter. It is lawful for the corporation to establish, charge, contract for,and receive any amount or rate of interest or compensation with respect tocorporation loans or education loans, and it shall also be lawful,notwithstanding any other provision of law, to make corporation loans oreducation loans at a rate of interest which may, during the life of the loans,be varied or revised upon terms or conditions that may be established by thecorporation. It is also lawful for any institution of higher education tocharge, contract for, and receive any amount or rate of interest orcompensation, including amounts or rates of interest which may be varied orrevised upon those terms or conditions that may be established by theinstitution, with respect to education loans.