Tenn. Code Ann. § 49-4-401
[Repealed.]
Redline — September 1, 2020 → current.View current text →
Current — September 30, 2020
As of September 1, 2020
(1) The Tennessee student assistance corporation, referred to in this part as “TSAC”, is given full power and authority to guarantee one hundred percent (100%) of any student loan, or one hundred percent (100%) of any loan made to a student's parent under the federal Higher Education Act of 1965 (20 U.S.C. § 1001 et seq.).
(2) Loans guaranteed by TSAC shall be evidenced by a note or contract that is valid and fully enforceable in a court of law or equity.
(3) A student receiving a loan guarantee provided by the corporation shall be without recourse to plead minority in any court of law or equity.
(4) The total reserve funds available for purposes of parts 2-7 of this chapter shall be maintained at least at the minimum level required by the federal Higher Education Act of 1965.
[Repealed.]
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.