195-E:1 Declaration of Policy. – It is declared to be the policy of this state that for the benefit of the people of the state, the increase of their commerce, welfare, and prosperity and the improvement of their health and living conditions, it is essential that students attending higher educational institutions be given the […]
195-E:10 Issuance of Bonds. – I. The authority is empowered to issue bonds and other obligations for the purposes specified in this chapter in accordance with this section. II. [Repealed.] III. No bonds or other obligations shall be issued except after the governor and council, or their designee, after hearing, shall have found that: […]
195-E:11 Rights of the Authority, Foundation, Qualified Educational Institution and Loan Corporations. – In issuing bonds for a student loan program, the authority, the foundation, any qualified educational institution and any loan corporations created under this chapter shall have all the power and authority and be subject to all of the rights, liabilities and […]
195-E:12 Credit of State Not Pledged. – I. Revenue bonds issued under this chapter do not constitute a debt or liability of the state or of any municipality or political subdivision of the state or a pledge of the faith and credit of the state or of any municipality or political subdivision. II. These […]
195-E:13 Source of Payment of Expenses. – All reasonable expenses incurred in carrying out the provisions of this chapter shall be payable by the foundation, the respective qualified educational institutions, or the respective loan corporations, as the case may be, and no liability or obligation shall be incurred by the authority or any other […]
195-E:14 Administration of Loans; No Discrimination. – I. The foundation, a qualified educational institution and a loan corporation shall have the full power and authority and be subject to all rights, responsibilities and liabilities for the administration of a loan program and for the distribution and collection of loans to qualified students or their […]
195-E:15 Exemption From Taxation. – The exercise of the powers granted by this chapter will be in all respects for the benefit of the people of the state, for the increase of their commerce, welfare and prosperity, and for the improvement of their health and living conditions, and will constitute the performance of an […]
195-E:15-a Designation of Eligible Lender for Federally Guaranteed Student Loans. – New Hampshire Higher Education Loan Corporation, a New Hampshire voluntary, nonprofit corporation, is hereby designated as "eligible lender" within the meaning of 20 U.S.C. section 1085(d)(1)(D), to enable it to provide a secondary market for federally guaranteed student loans. Furthermore, New Hampshire Higher […]
195-E:16 Severability. – If any provision of this chapter or the application thereof to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of the chapter which can be given effect without the invalid provisions or application, and to this end the provisions of this chapter are […]
195-E:2 Definitions. – In this chapter: I. "Authority" means the New Hampshire health and education facilities authority, established under RSA 195-D:4. II. "Loan corporation" means any corporation established under RSA 195-E:3. A loan corporation may make student loans to students of more than one qualified educational institution, or to the parents of those students. […]
195-E:3 Loan Corporation Authorized. – I. Any qualified educational institution may form a voluntary nonprofit corporation in accordance with this chapter for the purposes specified in this chapter. A qualified educational institution may form a loan corporation either: (a) By organizing a new voluntary nonprofit corporation as provided in this chapter; or (b) By […]
195-E:4 Incorporators. – I. A qualified educational institution may, by a 2/3 vote of its board of trustees or other governing body, agree to form a loan corporation for the purpose of providing low cost financial assistance to qualified students enrolled at the institution or to their parents. The articles of agreement, articles of […]
195-E:5 Articles of Agreement. – The articles of agreement of a loan corporation shall contain the following: I. The name of the loan corporation, which shall clearly identify the qualified educational institution or institutions involved and shall contain the words "Loan Corporation"; II. The object for which the loan corporation is established; III. The […]
195-E:6 Repealed by 1983, 112:12, eff. May 25, 1983. –
195-E:7 Recording. – The secretary of state shall record the articles of agreement in his office. When so recorded the signers shall be a loan corporation. The loan corporation and its officers and members shall have all the rights and powers and shall be subject to all the duties and liabilities as those of […]
195-E:8 Fees for Recording. – The fee for recording the articles of agreement and any record of amendment in the office of the secretary of state shall be the same as the fees which are required for voluntary nonprofit corporations under RSA 292:5. Source. 1981, 229:1, eff. Aug. 10, 1981.
195-E:9 Repealed by 1983, 112:12, eff. May 25, 1983. –
