Title 21, Title 21 — Education

Short title. This article may be cited as the "Wyoming Higher Education Assistance Authority Act."

Definitions. (a) As used in this article: (i) "Authority" means the Wyoming higher education assistance authority; (ii) "Board" means the board of directors of the authority; (iii) "College" means any accredited institution offering higher education; (iv) "Financial institution" …

Wyoming higher education assistance authority; creation; termination; board of directors; composition; compensation; meetings; surety bonds; personal liability; fiscal control. (a) The Wyoming higher education assistance authority is established as a body corporate to operate as …

Executive director; employment of additional personnel; compensation. (a) The board may appoint an executive director to serve as executive secretary to the board and as the chief executive officer of the authority. The executive director shall serve at the pleasure of the board …

Powers and duties generally; preference to state financial institutions. (a) For the purposes of this article, the authority may: (i) Sue and be sued and procure necessary liability insurance; (ii) Have a seal; (iii) Make and execute contracts and other instruments; (iv) Adopt ru…

Revenue obligations; issuance. (a) Subject to W.S. 21-16-707, the authority may issue bonds in principal amounts it deems necessary to provide sufficient funds for achieving any of its purposes, including the payment of interest and the establishment of reserves. All obligations …

Revenue obligations; amount authorized. The authority may issue at one time or from time to time, and subject to the express approval of the governor after a public hearing following reasonable public notice, revenue obligations in an aggregate amount outstanding at any one time …

Revenue obligations; security. (a) In any resolution authorizing the issuance of obligations, the authority shall pledge or assign as security therefor: (i) Payments received on student loans including principal, interest and penalties and other income rendered in connection with…

Debt service reserve funds; use of monies. (a) Unless otherwise provided in the resolution or indenture providing for the issuance of particular obligations, the monies held in or credited to any debt service reserve fund established under this section shall be used solely for: (…

Disposition of monies received. Monies received pursuant to this article, whether as proceeds from the sale of obligations or as revenues, receipts or income, shall be held as trust funds to be applied solely as provided in the proceedings under which the obligations are authoriz…

Notice of default; authority to pay unpaid balance of principal to financial institutions; financial institutions to deliver note to authority. (a) The authority shall establish and at all times maintain one (1) or more adequate reserve funds to provide for defaults on student lo…

Age discrimination prohibited; full legal capacity of minors. Any student qualifying for a loan under this article is not disqualified by reason of being a minor. For the purpose of applying for, receiving and repaying a loan, any student has full legal capacity to act and all th…

Information sharing. Colleges in this state shall furnish to the authority and to financial institutions information necessary to properly administer this article. Upon request, the authority may regularly furnish information on higher education student loan transactions to colle…

Investment of state funds in insured, guaranteed or other higher education loans. (a) Subject to approval of the governor and advice of the attorney general, the state treasurer may enter into standby commitment agreements for a commercially reasonable fee with the authority unde…

Exemptions from taxation; exceptions. The exercise of the powers granted by this article constitutes the performance of an essential governmental function. The authority shall not be required to pay any taxes levied by any municipality or political subdivision of the state upon i…

Obligations as legal investments. The obligations of the authority are legal investments which may be used as collateral for public funds of the state, insurance companies, financial institutions, savings and loan associations, investment companies, trustees and other fiduciaries…

State pledge not to impair rights and remedies of holders of obligations. The state pledges to the holders of any obligations issued under this article that the state will not limit or alter the rights vested in the authority to fulfill the terms of agreements made with the holde…

Investment and management of funds; audit. (a) In investing and managing its funds, the authority shall exercise the judgment and care which persons of prudence, discretion and intelligence would exercise under similar circumstances in managing the permanent disposition of their …

Assistance by state agencies. (a) Upon request of the authority, any state agency may temporarily assign to the authority officers and employees necessary to assist the authority in carrying out its functions and duties under this article. Assigned state officers and employees sh…

Annual report and budget. (a) The authority shall submit an annual report in the manner provided by W.S. 9-2-1014. (b) The authority shall submit its budget for review as provided by W.S. 9-2-1010 through 9-2-1014. (c) This section shall not impair or affect any pledge of special…

Conflicts of interest. (a) The authority shall not purchase from, sell to, borrow from, loan to, contract with or otherwise deal with any corporation, trust, association, partnership or other entity in which any director of the authority has a financial interest. (b) Subject to s…

Inspection of financial records. The director of the department of audit or his designee may at any time inspect and examine the books, financial accounts and financial records of the authority.

University of Wyoming endowment challenge program. The University of Wyoming endowment challenge program is created.

Definitions. (a) As used in this article: (i) "Challenge account" means the university endowment challenge account established under W.S. 21-16-903; (ii) "Permanent endowment funds managed by the University of Wyoming foundation" means the endowment funds that are invested by the…

University endowment challenge account. (a) The university endowment challenge account is created. (b) The state treasurer shall invest amounts deposited within the account in accordance with law, and all investment earnings shall be credited to the general fund. Notwithstanding …

Endowment challenge fund matching fund program; matching payments; agreements with university foundation; annual reports; reversions of appropriations; legislative oversight. (a) The state treasurer shall administer the matching fund program established under this section. The fo…

Definitions. (a) As used in this article: (i) "Challenge account" means the university athletics challenge account established under W.S. 21-16-1002; (ii) "Qualifying contribution" means a transfer of money or other property of a value of not less than twenty-five thousand dollar…

University athletics challenge account. (a) The university athletics challenge account is created. (b) The state treasurer shall invest amounts deposited within the account in accordance with law. All investment earnings shall be credited to the general fund. Notwithstanding W.S.…

Athletics challenge matching program; state treasurer to administer program account; matching payments; conditions; annual reports; reversion of appropriations. (a) The state treasurer shall administer the university athletics challenge account established under this article. The…

Wyoming community college endowment challenge program. The Wyoming community college endowment challenge program is created.

Definitions. (a) As used in this article: (i) "Challenge fund" means the community college endowment challenge fund created under this article; (ii) "Endowment gift" means an irrevocable gift or transfer to a Wyoming community college foundation of money or other property, whethe…

Wyoming community college endowment challenge fund. (a) The Wyoming community college endowment challenge fund is created and shall consist of seven (7) separate accounts, one (1) account for each Wyoming community college. (b) The state treasurer shall invest funds within the fu…

Endowment challenge fund matching program; matching payments; agreements with foundations; annual reports. (a) To the extent funds are available in the separate account of any community college within the endowment challenge fund, the state treasurer shall match endowment gifts a…

Excellence in higher education endowment fund; Hathaway student scholarship endowment fund; distributions by state treasurer; legislative restrictions. (a) The excellence in higher education endowment fund is created as provided by W.S. 9-4-204(u)(vi). (b) In addition to the exce…

Excellence in higher education endowment fund distributions to University of Wyoming. (a) Repealed By Laws 2007, Ch. 148, § 2. (b) The university shall use the earnings received under W.S. 21-16-1201(c)(i) to establish endowed faculty positions and to acquire instructional and re…

Excellence in higher education endowment fund distributions to Wyoming community colleges. (a) Repealed By Laws 2007, Ch. 148, § 2. (b) Each community college shall use the earnings received under W.S. 21-16-1201(c)(ii) as provided by this section to establish endowed faculty pos…

Annual reports; review by committees. (a) Not later than October 1, 2006, and October 1 of each year thereafter, the University of Wyoming and each Wyoming community college shall report to the joint appropriations and joint education interim committees of the legislature and to …

Definitions. (a) As used in this article: (i) "Academic term" means the fall semester or term or the spring semester or term. In this article, "term" and "semester" have the same meaning except that recipients may elect to use the scholarship during summer school, which except as…

Hathaway scholarship expenditure account created; reserve account created; use and appropriation of funds. (a) The Hathaway scholarship expenditure account is created to consist of earnings from the Hathaway student scholarship endowment fund created by W.S. 9-4-204(u)(vii) and s…

Hathaway scholarship program; eligibility requirements. (a) There is created the Hathaway scholarship program for Wyoming students. (b) Under the Hathaway scholarship program, subject to availability of funds as determined by the legislature, the state shall provide a scholarship…

Hathaway opportunity, performance and honor scholarships. (a) Any student who meets the criteria under W.S. 21-16-1303 is eligible to receive a scholarship to pursue a degree or certificate as follows: (i) With a minimum cumulative high school GPA of 2.50 and a score equal to or …

Hathaway provisional opportunity scholarships. (a) Any student who meets the criteria under W.S. 21-16-1303 is eligible to receive a Hathaway provisional opportunity scholarship to pursue a certificate or degree as follows: (i) With a minimum cumulative high school GPA of 2.50 an…

Need based scholarships. (a) In addition to scholarships made available under W.S. 21-16-1304 and 21-16-1305 there shall be made available a need based Hathaway scholarship as follows: (i) The scholarship shall be available only to students qualifying for a scholarship under W.S.…

Success curriculum; test standards. (a) Repealed By Laws 2007, Ch. 187, § 2. (b) Except as otherwise provided for by law, the success curriculum required to qualify for honor or performance scholarship eligibility under this article for students graduating from high school in the…

Administration; rules and regulations. (a) This article shall be administered by the department in accordance with the following: (i) Students shall make application for scholarships under this article with the eligible institution at the time of applying for admission or in any …

Scholarship amounts. (a) To the extent a scholarship under this article would, when combined with any grant or scholarship from a student financial aid program administered through the state or any state institution, in any semester exceed the cost of attendance at the eligible i…