The authority shall maintain an administration fund for itself and of the corporation as provided for in this Code section to which shall be credited state moneys, federal moneys, other moneys, and earned income of the authority available for and determined by the authority to be applied for the purpose of paying administration costs of the authority. The authority is authorized to pay from the fund administration costs incurred by the authority and to pay to the commission such amounts as may be necessary to cover administration costs of the authority paid or to be paid by the commission for or on behalf of the authority. Unless otherwise prohibited by state or federal law or by the terms of any trust agreement entered into or resolution providing for the issuance of obligations pursuant to Subpart 2 of this part or by the terms of any other agreement entered into by the authority, the authority is authorized to pay from the fund administration costs incurred by the corporation and pay to the commission such amounts as may be necessary to cover administration costs of the corporation paid or to be paid by the commission for or on behalf of the corporation.
History. Code 1933, § 32-3709, enacted by Ga. L. 1980, p. 835, § 3.
Structure Georgia Code
Chapter 3 - Postsecondary Education
Article 7 - Scholarships, Loans, and Grants
Part 3 - Georgia Student Finance Authority
Subpart 1 - General Provisions
§ 20-3-311. Legislative Findings; Purposes of Authority
§ 20-3-313. Authority Created as Successor to Georgia Higher Education Assistance Authority
§ 20-3-314. Functions, Composition, Organization, and Conduct of Affairs of Board of Directors
§ 20-3-315. Authority Officers and Employees; Bonds
§ 20-3-317. Accounting System; Use of Funds; Payments to Commission
§ 20-3-318. Authority Administration Fund
§ 20-3-320. Audits of Authority; Distribution of Audit Reports
§ 20-3-321. School Audits; Program Reviews; Corrective Actions
§ 20-3-322. Contributions Deductible for Tax Purposes
§ 20-3-323. Conflicts of Interest Involving Directors, Officers, or Employees of Authority
§ 20-3-324. Authority Assigned to Commission
§ 20-3-325. Dissolution of Authority
§ 20-3-326. Venue of Proceedings Against Authority
§ 20-3-327. General Banking Business by Authority Prohibited