Georgia Code
Part 2 - Georgia Higher Education Assistance Corporation
§ 20-3-265. Corporation Officers and Employees; Bonds

The executive director of the commission, or president, if designated by such title by the board of commissioners, shall serve as the executive director, or president, if designated by such title by the board of directors, and chief executive officer of the corporation. The executive director shall provide for maintenance of accurate and permanent minutes and records of all proceedings and activities of the board of directors and the corporation and have authority and responsibility to implement and carry out all administrative powers, duties, and functions of the corporation in accordance with governing state and federal laws and rules, regulations, and policies prescribed by the board of directors. The treasurer of the commission shall serve as treasurer of the corporation. The treasurer shall receive and disburse all funds made available to or for the use of the corporation by the General Assembly or otherwise in accordance with law and as may be directed by the board of directors. The secretary of the commission shall serve as secretary of the corporation. Other officers of the commission who are assigned duties and responsibilities relative to the purposes of the corporation may be designated as officers of the corporation. The foregoing officers and all other employees, professional personnel, agents, experts, consultants, and persons employed or retained by the commission who are assigned duties and responsibilities relative to the purposes of the corporation shall perform such assigned duties and responsibilities in accordance with the federal act and this part. Fidelity bond coverage of officers, employees, and members of the commission provided pursuant to paragraph (4) of Code Section 20-3-235 and covering such persons who are performing duties and responsibilities relative to the corporation pursuant to this part shall also be conditioned as to the insured and in such respects and for such sums as the board of directors determines necessary to protect the interests of the corporation.
History. Code 1933, § 32-3306, enacted by Ga. L. 1980, p. 835, § 2; Ga. L. 2003, p. 158, § 3.

Structure Georgia Code

Georgia Code

Title 20 - Education

Chapter 3 - Postsecondary Education

Article 7 - Scholarships, Loans, and Grants

Part 2 - Georgia Higher Education Assistance Corporation

§ 20-3-260. Short Title; Name of Program

§ 20-3-261. Legislative Findings; Purpose of Corporation

§ 20-3-262. Definitions

§ 20-3-263. Corporation Created as Successor to Former Georgia Higher Education Assistance Corporation

§ 20-3-264. Functions and Composition of Board of Directors; Organization and Conduct of Affairs

§ 20-3-265. Corporation Officers and Employees; Bonds

§ 20-3-266. Powers and Duties of the Corporation; Conflicts With Federal or State Law; Confidentiality

§ 20-3-267. Accounting System; Use of Funds; Payments to Commission

§ 20-3-268. Annual Audits of Corporation; Distribution of Audit Reports

§ 20-3-269. Loan Guaranties Not State Debt; Directors and Officers Not Personally Liable for Issuance of Guaranties

§ 20-3-270. Loan Guaranties Conditioned on Lenders’ and Holders’ Due Diligence

§ 20-3-271. Insurance Premiums or Guaranty Fees

§ 20-3-272. Submission of Lenders’ Billings and Reports to Secretary by Corporation; Use of State Funds to Accelerate Federal Payments

§ 20-3-273. State Interest Subsidy Payments for Student Borrowers

§ 20-3-274. Loan Discount Payments to Lenders

§ 20-3-275. Funds Maintained by Corporation

§ 20-3-276. School Rights Subject to Rules and Regulations

§ 20-3-277. Lender Rights Subject to Rules and Regulations

§ 20-3-279. Persons Forbidden to Engage in Business of Furnishing Educational Loan Information or Assistance

§ 20-3-280. Lender and School Audits; Program Reviews; Corrective Actions

§ 20-3-281. Sale, Pledge, or Assignment of Educational Loans

§ 20-3-282. Contracted Servicing of Loans

§ 20-3-283. Contributions Deductible for Income Tax Purposes

§ 20-3-284. Exemption of Corporation From Taxation

§ 20-3-285. Exemption of Lenders From Certain Taxation

§ 20-3-286. Conflicts of Interest Involving Directors, Officers, or Employees of Corporation

§ 20-3-287. Borrowers Deemed Capable Regardless of Age

§ 20-3-288. Proof of Residency in State

§ 20-3-289. Eligibility of Students in Default for Other State Student Assistance

§ 20-3-290. Corporation Assigned to Commission

§ 20-3-291. Termination and Dissolution of Corporation

§ 20-3-292. Venue of Proceedings Against Corporation

§ 20-3-293. General Banking or Insurance Business by Corporation Prohibited

§ 20-3-294. Operations Reports by Corporation

§ 20-3-295. Licensing Entities Prohibited From Refusing to Issue License or Suspending or Revoking License of Borrower in Default Under Certain Educational Loan Programs