Texas Insurance Code 425.009 – Student Loans
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Terms Used In Texas Insurance Code 425.009
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
A foreign or domestic life insurance company may make loans to a student enrolled in an institution of higher education if the principal amount of the loan is insured by:
(1) the federal government under the Higher Education Act of 1965 (Pub. L. No. 89-329), as amended; or
(2) the Texas Guaranteed Student Loan Corporation under Chapter 57, Education Code.