49-4-205 - Contracts with other student assistance corporations or organizations. - Tennessee Statutes

49-4-205. Contracts with other student assistance corporations or organizations.

The Tennessee student assistance corporation is authorized and empowered to enter into a contract with any existing nonprofit corporation or organization, created and operated for the purpose of making available an adequate supply of low-cost, long-term banking credit to needy students at a minimum of cost to the student and where loan administration and collection responsibility would be assumed by the nonprofit corporation or organization; provided, that the corporation or organization is approved by the department of commerce and insurance.

[Acts 1974, ch. 620, § 12; T.C.A., §§ 49-5012, 49-50-112.]