(a) In this section, "qualified nonprofit corporation" has the meaning assigned by Section 53B.02(11), Education Code.
(b) Only a qualified nonprofit corporation may apply for a student loan bond allocation.
(c) Repealed by Acts 2011, 82nd Leg., R.S., Ch. 1304, Sec. 4, eff. June 17, 2011.
(d) Each qualified nonprofit corporation that applies for a student loan bond allocation in compliance with all applicable application requirements for a program year is entitled to receive a student loan bond allocation prioritized in the order that the application was received by the board for that year.
(e) Repealed by Acts 2011, 82nd Leg., R.S., Ch. 1304, Sec. 4, eff. June 17, 2011.
(f) Repealed by Acts 2011, 82nd Leg., R.S., Ch. 1304, Sec. 4, eff. June 17, 2011.
(g) A qualified nonprofit corporation that receives a student loan bond allocation may not:
(1) transfer the allocation to another entity; or
(2) loan to another entity, other than a qualified borrower, proceeds of bonds issued under the allocation.