Title 16 — Title 16
0 chapters · 2,179 sections in this title.
Ala. Code § 16-33B-1 Definitions
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As used in this chapter, unless the context clearly requires a different meaning, the following words shall have the following meanings: (1) ACHE. The Alabama Commission on Higher Education. (2) APPROVED LENDER. Any eligible institution, or any bank, trust company, savings and lo…
Ala. Code § 16-33B-2 Legislative Findings and Purposes
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The Legislature declares that there exists within the State of Alabama a lack of sufficient availability of loans to residents of Alabama who choose to attend a postsecondary educational institution and who have a financial need in order to pay a portion or all of such residents’…
Ala. Code § 16-33B-3 Administration of Program
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The Alabama Guaranteed Student Loan Program created under this chapter shall be administered by the Alabama Commission on Higher Education. The Executive Director of the Alabama Commission on Higher Education shall have the primary responsibility for the administration of the pro…
Ala. Code § 16-33B-4 Basic Powers and Duties of the Alabama Commission on Higher
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Education for the Alabama Guaranteed Student Loan Program. (a) Basic powers. The Alabama Commission on Higher Education (ACHE) is authorized to administer the Alabama Guaranteed Student Loan Program in accordance with the Federal Student Loan Law, and empowered to promulgate such…
Ala. Code § 16-33B-5 Audit of Approved and Eligible Institutions
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Each approved institution and eligible institution shall be subject to examination at any time by ACHE or the Examiner of Public Accounts for the purpose of determining whether such institution has complied with the provisions of this chapter and the rules and regulations promulg…
Ala. Code § 16-33B-6 False Statements or Misrepresentations
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Any person who knowingly makes or furnishes any false statement or misrepresentation, or who accepts such false statement or misrepresentation knowing the same to be false, for the purpose of enabling an individual or institution to wrongfully obtain moneys under this program, sh…
Ala. Code § 16-33B-7 Dissolution of Program; Vesting of Property
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The loan program may not be dissolved until all guaranteed loans have been repaid by the borrowers, or if in default, by ACHE. Upon dissolution of the loan program, all the property and moneys of the program not owed to the federal government shall vest in the Education Trust Fun…
Ala. Code § 16-33B-8 Legal Counsel for Program
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The Attorney General or his agent shall act as legal counsel to ACHE for the Alabama Guaranteed Student Loan Program. When the collection of loans on which ACHE has met its guarantee obligation requires legal action outside the State of Alabama, ACHE, upon recommendation of the A…