§ 45-38.1-5.2 - Acquisition of certain monies, endowments, properties, and guarantees. - Rhode Island Statutes

SECTION 45-38.1-5.2

   § 45-38.1-5.2  Acquisition of certainmonies, endowments, properties, and guarantees. – The corporation is authorized and empowered to establish specific guidelinesrelating to the deposits of certain monies, endowments, or properties byinstitutions for higher education which would provide security for educationloan funding programs, corporation loans, education loans, or for bonds ornotes, and to establish guidelines relating to guarantees of or contracts topurchase education loans or bonds by the institutions or by financialinstitutions or others. A default reserve fund may be established for eachseries or issue of bonds. In this regard, the corporation is empowered toreceive monies, endowments, properties, and guarantees as it deems appropriateand, if necessary, to take title in the name of the corporation or in the nameof a participating institution for higher education or a trustee.