Section 173.405 – Principal and interest, how secured — resolution or trust agreement, content — default, remedies.
Effective – 28 Aug 1994 173.405. Principal and interest, how secured — resolution or trust agreement, content — default, remedies. — The principal of and interest on any bonds issued by the authority shall be secured by a pledge of the revenues derived from or by reason of the ownership of student loan notes and […]
Section 173.410 – State or political subdivision not liable, statement on face of bond required.
Effective – 28 Aug 1994 173.410. State or political subdivision not liable, statement on face of bond required. — Bonds or other forms of indebtedness issued under the provisions of sections 173.350 to 173.450 shall not be deemed to constitute a debt or liability of the state or of any political subdivision thereof or a […]
Section 173.415 – Tax exemptions, income and property of authority — bonds exempt from certain provisions.
Effective – 28 Aug 1994 173.415. Tax exemptions, income and property of authority — bonds exempt from certain provisions. — The authority is hereby declared to be performing a public function and to be a separate public instrumentality of the state. Accordingly, the income of the authority and all properties at any time owned by […]
Section 173.420 – Authority may borrow for expenses — loans to be repaid — powers of authority, how construed.
Effective – 28 Aug 1981 173.420. Authority may borrow for expenses — loans to be repaid — powers of authority, how construed. — All expenses of the authority incurred in carrying out the provisions of sections 173.350 to 173.450 shall be payable solely from funds provided under such sections, and no liability shall be incurred […]
Section 173.350 – Citation of law.
Effective – 28 Aug 1981 173.350. Citation of law. — This subchapter may be referred to and cited as the “Missouri Higher Education Loan Authority Act”. ——– (L. 1981 H.B. 326)
Section 173.355 – Definitions.
Effective – 28 Aug 2007 173.355. Definitions. — As used in sections 173.350 to 173.450*, the following terms mean: (1) “Asset of the authority”, any asset or investment of any kind owned by the authority, including, but not limited to, any student loan, any income or revenues derived from any asset or investment owned by […]
Section 173.360 – Higher education loan authority, created — members, selection procedure, qualifications — terms — vacancy — removal procedure.
Effective – 28 Aug 2007 173.360. Higher education loan authority, created — members, selection procedure, qualifications — terms — vacancy — removal procedure. — In order to assure that all eligible postsecondary education students have access to student loans that are guaranteed or insured, or both, and in order to support the efforts of public […]
Section 173.365 – Quorum — affirmative vote requirement — meetings open to public — notice — expenses.
Effective – 28 Aug 1994 173.365. Quorum — affirmative vote requirement — meetings open to public — notice — expenses. — Four members of the authority shall constitute a quorum for the purpose of conducting business and exercising the powers of the authority. Action may be taken by the authority upon the affirmative vote of […]
Section 173.370 – Organizational meeting — officers — secretary, appointment, duties, compensation, executive director, appointment, compensation.
Effective – 28 Aug 1981 173.370. Organizational meeting — officers — secretary, appointment, duties, compensation, executive director, appointment, compensation. — 1. The chairman of the coordinating board shall call and convene the initial organizational meeting of the authority and shall serve as its chairman pro tem. At the initial meeting and annually thereafter, the authority […]
Section 173.375 – Bond requirements for members of authority — filed where.
Effective – 28 Aug 1981 173.375. Bond requirements for members of authority — filed where. — Each member of the authority shall execute a surety bond in the penal sum of fifty thousand dollars or, in lieu thereof, the chairman of the authority shall execute a blanket bond covering each member and the employees or […]