Title 20

Bonds of the authority shall be confirmed and validated in accordance with the procedure of Article 3 of Chapter 82 of Title 36. The petition for validation shall also make party defendant to such action any authority, subdivision, instrumentality, or agency of the state which ha…

Any action to protect or enforce any rights under this article shall be brought in the Superior Court of Fulton County; and any action pertaining to validation of any bonds issued under this article shall likewise be brought in such court, which shall have exclusive, original jur…

The authority, in addition to the moneys which may be received from the sale of revenue bonds and from the collection of revenues, rents, and earnings derived under this article, shall have authority to accept from any federal agency grants for or in aid of the construction of an…

All moneys received pursuant to the authority of this article, whether as proceeds from the sale of revenue bonds; as grants or other contributions; or as revenues, rents, and earnings, shall be deemed to be trust funds to be held and applied solely as provided in this article. (…

(a) The authority is authorized to fix rentals and other charges which the board of regents shall pay to the authority for the use of each project or part thereof or combination of projects, to charge and collect them, and to lease and make contracts with political subdivisions a…

It shall be the duty of the authority to prescribe rules and regulations for the operation of each project or combination of projects constructed under this article, including rules and regulations to ensure maximum use or occupancy of each such project. (Ga. L. 1949, p. 1009, § …

The accounts of the authority created in this article shall be kept as separate and distinct accounts by the treasurer of the board of regents and shall be subject to audit by the Department of Audits and Accounts. (Ga. L. 1949, p. 1009, § 32.)

This article does not in any way take from the board of regents the authority to issue revenue bonds for a particular purpose. (Ga. L. 1949, p. 1009, § 33.)

This article shall be deemed to provide an additional and alternative method for the doing of the things authorized thereby, shall be regarded as supplemental and additional to powers conferred by other laws, and shall not be regarded as in derogation of any powers now existing. …

This article may be cited as the ‘‘Private Colleges and Universities Authority Act.’’ (Ga. L. 1978, p. 1765, § 1; Ga. L. 1983, p. 1820, § 1.)

As used in this article, the term: (1) ‘‘Authority’’ means the Private Colleges and Universities Authority created by this article and any successor or successors thereto. Any change in name or composition of the authority shall in no way affect the vested rights of any person un…

There is created a public body corporate and politic to be known as the Private Colleges and Universities Authority, and by that name, style, and title such body may contract and be contracted with, bring and defend actions and implead and be impleaded, and complain and defend in…

The purpose of the authority shall be to assist institutions for higher education. The exercise by the authority of the powers conferred by this article shall be deemed and held to be the performance of an essential public function. For the purpose of this article, the authority …

(a) The authority is authorized from time to time to provide by resolution for the issuance of negotiable revenue bonds for the purpose of paying all or any part of the cost as defined in Code Section 20-3-202 of any of its projects. Such bonds may also be issued to pay off, refu…

Neither the members of the authority nor any person executing bonds or notes on behalf of the authority shall be personally liable thereon by reason of the issuance thereof. (Ga. L. 1978, p. 1765, § 6.)

Revenue bonds issued under this article shall not be deemed to constitute a debt or pledge of the faith and credit of this state or any political subdivision thereof within the meaning of any provision of the Constitution or laws of this state, but such revenue bonds shall be pay…

The authority may, by appropriate resolution, trust indenture, mortgage, or other security agreement, provide the holders of any of its revenue bonds or interest coupons such rights and remedies, in law or in equity, as may be necessary or desirable in connection with the issuanc…

The revenues, rents, purchase payments, financing charges, or other earnings derived from any particular project may be pledged and allocated by the authority pursuant to appropriate resolution as security for any issue of revenue bonds; and such resolution may fully provide for …

The creation of the authority and the carrying out of its corporate purposes is in all respects for the benefit of the people of this state and is a public purpose, and the authority will be performing an essential governmental function in the exercise of the power conferred upon…

While any of the revenue bonds issued by the authority remain outstanding, the powers, duties, or existence of the authority or of any of its officers shall not be diminished or impaired in any manner that will affect adversely the interest and rights of the holders of such reven…

(a) All moneys received by the authority pursuant to this article, whether as grants or other contributions or as revenues, rents, or earnings, shall be held and applied to the expenses, outstanding bond obligations, and other obligations of the authority. (b) In the event this a…

The authority may hold title to any project financed by it but shall not be required to do so. (Ga. L. 1978, p. 1765, § 14.)

The authority’s legal situs or residence for the purpose of this article shall be Fulton County. Any action to protect or enforce any rights under this article, including the validation of obligations issued by the authority as permitted in this article, shall be brought in the S…

This article, being for the welfare of the state and its inhabitants, shall be liberally construed to effect its purposes. (Ga. L. 1978, p. 1765, § 15.) ARTICLE 7 SCHOLARSHIPS, LOANS, AND GRANTS

This part shall be known and may be cited as the ‘‘Georgia Student Finance Commission Act.’’ (Code 1933, § 32-3101, enacted by Ga. L. 1980, p. 835, § 1.)

(a) Legislative findings. The General Assembly has determined that it is a valid public purpose to promote the educational level of achievement of citizens and persons in this state by creating the Georgia Higher Education Assistance Corporation, a public authority, as provided f…

As used in this part, the term: (1) ‘‘Authority’’ means the Georgia Student Finance Authority created by Code Section 20-3-313. (2) ‘‘Board of commissioners’’ means the board of commissioners of the commission. (3) ‘‘Commission’’ means the Georgia Student Finance Commission creat…

(a) There is created within the executive branch of state government a commission to be known as the Georgia Student Finance Commission. The commission shall be an agency of the state and a budget unit thereof. (b) The commission created by subsection (a) of this Code section sha…

(a) Functions and composition of board of commissioners. (1) The commission shall be governed and all of its powers, duties, and functions shall be exercised by a board of commissioners. The board of commissioners shall be composed of the following public commissioners, to be app…

The board of commissioners shall provide for the employment of all personnel and for retention of all support services necessary to enable it to effectuate and carry out its powers, duties, and functions under this part, including, but without limitation, the following: (1) Chief…

(a) In addition to all other provisions of this part and in furtherance of the purposes of the commission, the commission shall have the following powers, duties, and functions: (1) The board of commissioners shall serve as the board of directors of the corporation pursuant to th…

If any federal law or rule shall at any time have the effect of prohibiting any person from simultaneously serving as a member of the board of directors of the corporation and as a member of the board of directors of the authority, the Governor is authorized, notwithstanding the …

The commission shall maintain a system of accounts in accordance with generally acceptable accounting procedures and standard accounting procedures and systems established by the state, where applicable, which shall, among other things, properly identify and account for all funds…

The state auditor shall make an annual financial audit of the books, accounts, and records of the commission. The state auditor shall maintain a copy of the audit report on file in his or her office, make copies of the report available for inspection by the general public, and fu…

The commission shall submit its regular and supplemental budget requests to the Governor at such times and in such form and manner as required by state law; provided, however, that the commission shall, in accordance with Code Section 50-4-3, include in its budget requests the re…

The commission is authorized to publish in print or electronically annually or at less frequent intervals determined by the board of commissioners an operations report covering the activities of the commission, including, without limitation, a report of revenues and expenditures …

This part shall be known and may be cited as the ‘‘Nonpublic Postsecondary Educational Institutions Act of 1990.’’ (Code 1981, § 20-3-250.1, enacted by Ga. L. 1990, p. 1166, § 3.)

(a) At the time an initial application or application for a branch facility is made for authorization to operate, the executive director shall require the nonpublic postsecondary educational institution making such application to file with the executive director a good and suffic…

(a) Fees shall be collected by the executive director in such amounts as shall be established by the commission. The commission is authorized to establish the following fees and fee schedules: (1) Separate initial application and renewal fee schedules for degree-granting and nond…

(a) If the executive director, upon review and consideration of an application for authorization to operate or for an agent’s permit or for renewal thereof, shall determine that the applicant fails to meet the criteria established as provided in this part, the executive director …

(a) An authorization to operate or an agent’s permit may be revoked or made conditional after its issuance if the executive director has reasonable cause to believe that the holder of such authorization or permit has violated or is violating this part or any rules and regulations…

(a) Any person claiming damage or loss as a result of any act or practice by a nonpublic postsecondary educational institution or its agent, or both, which is a violation of this part or of the rules and regulations promulgated pursuant thereto may file with the executive directo…

(a) Any person aggrieved by a decision of the executive director respecting denial of an authorization to operate or of an agent’s permit or the placing of conditions thereon, whether on initial application or on application for renewal, or by a decision of the executive director…

(a) Any person aggrieved or adversely affected by any final action of the commission may obtain judicial review of such action as provided in this Code section. (b) An action for judicial review may be commenced in any court of competent jurisdiction within 30 days after the comm…

In the event any nonpublic postsecondary educational institution now or hereafter operating in this state proposes to discontinue its operations, the chief administrative officer, by whatever title designated, of such institution shall cause to be filed with the executive directo…

(a) The Attorney General of this state or the district attorney of any judicial circuit in which a nonpublic postsecondary educational institution or an agent thereof is found, at the request of the executive director or on his own motion, may bring any appropriate action or proc…