Title 20 — Education

Legislative findings; purpose of commission. Definitions. Creation of commission as successor to State Scholarship Commission; transfer of assets. Functions and composition of board of commissioners; appointment, qualifications, and terms of commissioners; board officers; meeting…

The board of regents shall elect a secretary, not a member thereof, for such term and salary as it may establish. The secretary shall maintain his office in the state capital and shall devote to the board his entire time. He shall give good and sufficient bond, payable to the Gov…

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.) 20-3-250.2. Definitions.

(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) 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 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…

(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…

Any nonpublic postsecondary educational institution not exempt from this part, whether or not a resident of or having a place of business in this state, which conducts postsecondary activities or which instructs or educates or offers to instruct or educate, enrolls or offers to e…

As used in this part, the term: (1) ‘‘Agent’’ means any natural person owning any interest in, employed by, or representing for remuneration a nonpublic postsecondary educational institution within or outside this state and who, by solicitation in any form made in this state, enr…

The commission, through the executive director, shall request funds for the administration of this part, and the General Assembly shall appropriate such funds as deemed adequate and necessary. (Code 1981, § 20-3-250.20, enacted by Ga. L. 1990, p. 1166, § 3.) 20-3-250.21. Fines fo…

Any person, group, or entity or any owner, officer, agent, or employee thereof who shall willfully violate Code Section 20-3-250.7 or 20-3-250.8 or who shall fail or refuse to deposit with the executive director the records required by Code Section 20-3-250.17 shall be subject to…

Reserved. Repealed by Ga. L. 1994, p. 1282, § 10, effective July 1, 1994. Editor’s notes. — This Code section was based on Ga. L. 1990, p. 1166, § 3. 20-3-250.23. Validity of certificates of authorization previously issued. All certificates of authorization previously issued unde…

20-3-250.24. Compensation and benefits of commission employees. Title to projects. Venue and jurisdiction of actions under this article. Liberal construction of article. Article 7 Scholarships, Loans, and Grants PART 1 GEORGIA STUDENT FINANCE COMMISSION 20-3-230. 20-3-231. 20-3-2…

(a) All employees of the commission shall be subject to and covered by Article 1 of Chapter 20 of Title 45, but the position of executive director and such other employee positions as may be determined by the commission to be exempt from the classified service pursuant to that ar…

(a) It is the purpose of this Code section to create a trust fund from participation fees from postsecondary educational institutions to enable such institutions, collectively, to protect students against financial loss when a postsecondary educational institution closes without …

Educational institutions exempted from application of part. 20-3-250.4. Nonpublic Postsecondary Education Commission; membership.

20-3-250.5. Administration; general powers and duties. 20-3-250.6. Minimum standards for educational institutions.

(a) The commission shall be assigned to the Georgia Student Finance Commission for administrative purposes only. The commission shall be a budget unit of the executive branch of the state government. (b) The commission shall have the following powers and duties: (1) To establish …

(a) In establishing the criteria required by paragraph (2) of subsection (b) of Code Section 20-3-250.5, the commission shall observe and shall require compliance with the following minimum standards: (1) A nonpublic postsecondary educational institution must be maintained and op…

This part shall be known and may be cited as the ‘‘Georgia Higher Education Assistance Corporation Act.’’ The educational loan program provided for in this part may be referred to and cited as the ‘‘Georgia Higher Education Loan Program.’’ (Code 1933, § 32-3301, enacted by Ga. L.…

(a) Legislative findings. (1) The General Assembly finds that the growth and development of this state and nation have been and will undoubtedly remain strongly related to the degree to which educational opportunities are provided to all of their citizens; recognizes that costs a…

As used in this part, the term: (1) ‘‘Authority’’ means the Georgia Student Finance Authority created by Code Section 20-3-313. (2) ‘‘Authorized officer’’ means the chairman, vice-chairman, executive director or president, treasurer, secretary, or other person authorized by this …

The executive director of the commission, or president, if designated by such title by the board of commissioners, shall serve as the executive director, or president, if designated by such title by the board of directors, and chief executive officer of the corporation. The execu…

The corporation shall maintain a system of accounts in accordance with generally accepted 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 …

For article contrasting guaranty with suretyship in Georgia, see 2 Ga. B. J. 25 (1939). For article, “The Distinction Between Guaranty and Suretyship in Georgia,” see 9 Ga. B. J. 273 (1947). For comment discussing distinction between guaranty and suretyship, in light of McCallum …

The board of regents shall make at least one annual visit and inspection of each of the institutions in the university system through committees of not less than two of its members, who shall report their visits and inspections to the board. (Ga. L. 1931, p. 7, § 58; Code 1933, §…

The corporation is authorized to charge and collect insurance premiums on loans in accordance with the federal act and to provide for all matters relative thereto. In the administration of the program, the insurance premium charged may be identified and referred to as a ‘‘guarant…

The corporation is authorized to pay to the lender, on behalf of a student borrower and out of the corporation’s state interest subsidy and loan discount fund, interest accruing on a loan guaranteed by the corporation which is not eligible for payment of the federal interest subs…

In order to provide an additional incentive to lenders to broaden their participation in the program and better to assure lenders of receiving a competitive yield on educational loans made under this part, the corporation is authorized to pay to lenders, other than lenders who ar…

There are created, but not by way of limitation, the following special funds for the purposes prescribed: (1) Loan guaranty fund. A loan guaranty fund shall be maintained for the security of holders of loans guaranteed by the corporation. The corporation is authorized to guarante…

No school and no class, type, or group of ‘‘eligible institutions,’’ as such term is defined in the federal act, shall have a vested right to be approved by the corporation as a ‘‘school’’ for purposes of the program, except in accordance with rules and regulations prescribed by …

No lender and no class, type, or group of ‘‘eligible lenders,’’ as such term is defined in the federal act, shall have a vested right to be approved by the corporation as a ‘‘lender’’ for purposes of the program, except in accordance with rules and regulations prescribed by the c…

Members of the board of regents shall receive the sum provided by Code Section 45-7-21 for each day of actual attendance at meetings of the board or for each day of travel, within or outside the state, as a member of a committee of the board, which travel has been authorized by t…

The corporation is authorized: (1) To examine and audit accounts and records of lenders and schools relative to educational loans guaranteed by the corporation; (2) To conduct program reviews with appropriate officers and personnel of lenders and schools as may be necessary or ap…

A lender may sell loans guaranteed by the corporation, or an interest in such loans, to another lender only in accordance with regulations of the corporation; and in such event the guaranty liability of the corporation on such loans or interests therein shall not be affected. A l…

The servicing or collection of educational loans held by a lender may not be contracted to any other lender, person, or entity except in accordance with rules and regulations of the corporation. (Code 1933, § 32-3324, enacted by Ga. L. 1980, p. 835, § 2.) 20-3-283. Contributions …

Notwithstanding any general or special law or any certificate of incorporation, charter, or other articles of organization, all domestic or domesticated corporations, associations, and other taxable entities carrying on business in this state and any person are authorized to make…

In that the corporation is a duly created public authority and political subdivision of the state and is performing essential governmental functions in the exercise of its corporate purposes, the state covenants with the holders of educational loans guaranteed by the corporation …

One-half of the outstanding principal amount of loans guaranteed by the corporation and owned by a lender as of January 1 each year shall be deductible from the assets of the lender when determining the value of shares of the lender, or when determining the net worth of the lende…

For the purpose of applying for, receiving, and repaying any educational loan under this part, all persons of any age shall be deemed to have full legal capacity to act and shall have all the rights, powers, privileges, and obligations of a person of legal age with respect theret…

In accordance with the national scope and intent of the United States relative to educational loans as expressed in the federal act, lenders and the corporation are authorized to accept and rely upon a student’s or parent’s certification of his or her state of legal residence unl…

Any student who is indebted to the corporation on a defaulted educational loan obtained under this part shall not be eligible to apply for or receive educational financial assistance available under any other state funded student financial aid program unless the student has made …

The expense of the board of regents, other than that of the institutions under its control, shall be met out of a separate appropriation enacted for its maintenance and support. (Ga. L. 1931, p. 7, § 77; Code 1933, § 32-133.)

The corporation is assigned to the commission for administrative purposes as prescribed in Code Section 50-4-3. (Ga. L. 1972, p. 1015, § 1902; Code 1933, § 32-3336, enacted by Ga. L. 1980, p. 835, § 2.) 20-3-291. Termination and dissolution of corporation.

The corporation and its corporate existence shall continue until terminated by law; provided, however, that no such law shall take effect so long as the corporation shall have obligations outstanding, unless adequate provision has been made for the payment thereof and the holders…

The venue for any legal proceeding brought against the corporation shall be Fulton County, regardless of the county in which the principal office or any other office of the corporation may be located. (Code 1933, § 32-3338, enacted by Ga. L. 1980, p. 835, § 2.) 20-3-293. General …

Nothing contained in this part shall be construed to mean that the corporation is engaged in or is authorized to engage in the general banking or general insurance business. (Code 1933, § 32-3339, enacted by Ga. L. 1980, p. 835, § 2.) 20-3-294. Operations reports by corporation.

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

The board of regents shall have power: (1) To make such reasonable rules and regulations as are necessary for the performance of its duties; (2) To elect or appoint professors, educators, stewards, or any other officers necessary for all of the schools in the university system, a…