Sec. 1. The governor may request, on behalf of the state, the establishment of a private nonprofit corporation, with a bipartisan board of directors, to serve as a secondary market for education loans. If a private nonprofit corporation is established, the governor may designate the corporation to:
(1) serve as the secondary market for education loans; and
(2) act as an eligible lender under a federal program.
The corporation must satisfy the conditions imposed by sections 3 through 10 of this chapter, and its articles of incorporation must provide that upon the corporation's liquidation, any surplus funds must be paid to the state.
[Pre-2007 Higher Education Recodification Citation: 20-12-21.2-2(a).]
As added by P.L.2-2007, SEC.257.
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