Vermont Statutes Title 16 Sec. 2863
Terms Used In Vermont Statutes Title 16 Sec. 2863
- 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.
- Corporation: means the Vermont Student Assistance Corporation. See
- Higher Education Act: means the federal Higher Education Act of 1965, Pub. See
§ 2863. 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.)