Title 16, Title 16 Title 16

The notes and bonds of the authority are made securities in which all public officers and bodies of this state and all municipalities and municipal subdivisions, including, but not limited to, the authority, all companies and associations and other persons carrying on an insuranc…

The state does pledge to and agree with the holders of any bonds or notes issued under this chapter that the state will not limit or alter the rights vested in the authority to fulfill the terms of any agreements made with the holders until those bonds or notes, together with the…

Obligations issued under the provisions of this chapter shall not constitute a debt, liability, or obligation of the state or of any political subdivision of the state other than the authority or a pledge of the faith and credit of the state or any political subdivision other tha…

The authority is authorized to accept any money as may be appropriated by the general assembly for effectuating its corporate purposes including, without limitation, the payment of the initial expenses of administration and operation and the establishment of reserves or contingen…

(a) All state agencies may render any services to the authority within their functions as may be requested by the authority. (b) Upon request of the authority, any state agency is authorized and empowered to transfer to the authority any officers and employees as it may deem nece…

Within six (6) months after the close of its fiscal year the board shall approve and submit an annual report to the governor, the speaker of the house of representatives, the president of the senate, and the secretary of state of its activities during that fiscal year. The report…

When any provisions of this chapter are inconsistent with the provisions of any other law or ordinance, general, special, or local, the provisions of this chapter shall be controlling.

The purpose of this chapter is to authorize a system of financial assistance, consisting of grants, loans, and other aids, for qualified inhabitants of the state to enable them to obtain a postsecondary education by attending public or private educational institutions both within…

Nothing contained in this chapter shall restrict or limit the powers of the authority arising under any laws of this state. This chapter shall be construed to provide a complete additional and alternative method for doing the things authorized by it and shall be regarded as suppl…

This chapter being necessary for the welfare of the state and its inhabitants shall be liberally construed to effectuate its purposes.

If any clause, sentence, paragraph, section, or part of this chapter shall be adjudged by any court of competent jurisdiction to be invalid, that judgment shall not affect, impair, or invalidate the remainder of this chapter but shall be confined in its operation to the clause, s…

As used in this chapter, the following words and terms shall have the following meanings unless the context shall indicate another or different meaning or intent: (1) “Authority” means the governmental agency and public instrumentality authorized, created, and established pursuan…

(a) There is authorized, created, and established a public corporation of the state having a legal existence distinct from the state and not constituting a department of state government, which is a governmental agency and public instrumentality of the state, to be known as the “…

The authority shall have all the powers necessary and convenient to carry out and effectuate the purposes and provisions of this chapter, including without limiting the generality of the preceding statement, the power: (1) To sue and be sued, complain, and defend, in its corporat…

In addition to the powers enumerated in § 16-62-5, the authority shall have the power: (1) To lend money to students and to parents of students and to refinance or consolidate eligible loans and education loans previously made to a student or parent by the authority or other lend…

(a) The powers of the authority shall be vested in a board of directors consisting of six (6) members as follows: five (5) members appointed by the governor from among members of the general public, who are qualified by training or experience in education, finance, or personal in…

Any person qualifying for an eligible loan shall not be disqualified to receive the loan made for or guaranteed by the authority by reason of his being a minor. For the purpose of applying for, securing, receiving, and repaying this loan, any person shall be deemed to have full l…

(a) The authority shall have the power and is authorized to issue its negotiable bonds and notes in one or more series in any principal amounts as in the opinion of the authority shall be necessary to provide sufficient funds for achieving its purposes, including the payment of i…