The loan program may not be dissolved until all guaranteed loans have been repaid by the borrowers, or if in default, by ACHE. Upon dissolution of the loan program, all the property and moneys of the program not owed to the federal government shall vest in the Education Trust Fund, or its successor fund.
Structure Code of Alabama
Chapter 33B - Alabama Guaranteed Student Loan Program.
Section 16-33B-1 - Definitions.
Section 16-33B-2 - Legislative Findings and Purposes.
Section 16-33B-3 - Administration of Program.
Section 16-33B-5 - Audit of Approved and Eligible Institutions.
Section 16-33B-6 - False Statements or Misrepresentations.
Section 16-33B-7 - Dissolution of Program; Vesting of Property.