Vt. Stat. Ann. tit. 16, § 2863
Guarantee
Redline — July 1, 2021 → current.View current text →
Current — June 1, 2022
As of July 1, 2021
The Corporation is authorized to guarantee that any education loan notes properly executed shall be repaid according to their tenor and, if guaranteed under the Higher Education Act, to the extent authorized under that act, provided, that in the event of default, the holder has complied with the rules, regulations, and procedures of the Corporation, and with the Act and the regulations promulgated under the Act, regarding the making, servicing, and diligent collection of education loans until assigned to the Corporation as provided in this chapter. The Corporation may make loans that have no guarantee.
The Corporation is authorized to guarantee that any education loan notes properly executed shall be repaid according to their tenor and, if guaranteed under the Higher Education Act, to the extent authorized under that act, provided, that in the event of default, the holder has complied with the rules, regulations, and procedures of the Corporation, and with the Act and the regulations promulgated under the Act, regarding the making, servicing, and diligent collection of education loans until assigned to the Corporation as provided in this chapter. The Corporation may make loans that have no guarantee.
Added 1965, No. 198, § 7(c); amended 1975, No. 170 (Adj. Sess.), § 4; 1993, No. 147 (Adj. Sess.), § 4; 2003, No. 86 (Adj. Sess.), § 25; 2019, No. 131 (Adj. Sess.), § 102.
Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.