Georgia Code
Subpart 2 - Educational Loans Financed by Revenue Bonds
§ 20-3-356. Interests of Bondholders Protected

While any of the bonds issued by the authority remain outstanding, the powers, duties, or existence of the authority or of its officers, employees, or agents shall not be diminished or impaired in any manner that will affect adversely the interests and rights of the holders of such bonds, nor will the state itself in any way obstruct, prevent, impair, or render impossible the due and faithful performance by the authority of its duties. This part shall be for the benefit of the state, the authority, and each and every holder of the authority’s bonds and, upon and after the issuance of bonds under this part, shall constitute an irrevocable contract with the holders of such bonds.
History. Ga. L. 1969, p. 683, § 39; Code 1933, § 32-3743, enacted by Ga. L. 1980, p. 835, § 3.

Structure Georgia Code

Georgia Code

Title 20 - Education

Chapter 3 - Postsecondary Education

Article 7 - Scholarships, Loans, and Grants

Part 3 - Georgia Student Finance Authority

Subpart 2 - Educational Loans Financed by Revenue Bonds

§ 20-3-340. Legislative Findings; Purpose of Subpart

§ 20-3-341. Definitions

§ 20-3-342. Educational Loan Program Activities Authorized; Powers and Duties of Authority

§ 20-3-343. Credit of State Not Pledged for Payment of Authority Obligations; Revenues and Assets Available for Payment

§ 20-3-344. Issuance of Bonds and Notes of Authority; Amount; Interest; Form; Execution; Use of Proceeds; Validation

§ 20-3-345. Trust Agreements Authorized; Provisions of Trust Agreements and Bond Resolutions

§ 20-3-346. Lien of Pledge of Revenues or Assets of Authority

§ 20-3-347. Moneys Received by Authority Deemed Trust Funds; Investment

§ 20-3-348. Rights of Holders of Obligations of Authority

§ 20-3-349. Obligations of Authority Are Negotiable Instruments

§ 20-3-350. Obligations of Authority Are Legal Investments and Deposits

§ 20-3-351. Issuance of Refunding Obligations by Authority

§ 20-3-352. Reserve or Replacement Funds of Authority

§ 20-3-353. Exemption of Directors and Officers of Authority From Personal Liability

§ 20-3-354. Payment of Expenses From Appropriations and Income

§ 20-3-355. Tax Exemptions of Authority and Its Bonds and Notes; Exceptions

§ 20-3-356. Interests of Bondholders Protected

§ 20-3-357. Termination or Dissolution of Authority

§ 20-3-358. SubPart And Part Deemed Supplemental to Other Laws