§ 45-38.1-25. Institution for higher education powers.
Notwithstanding any other provision of law, any participating institution for higher education has the power to borrow money from the corporation, make education loans, and take all other actions and do those things that are necessary or convenient to consummate the transactions contemplated under this chapter. It is lawful for the corporation to establish, charge, contract for, and receive any amount or rate of interest or compensation with respect to corporation loans or education loans, and it shall also be lawful, notwithstanding any other provision of law, to make corporation loans or education loans at a rate of interest which may, during the life of the loans, be varied or revised upon terms or conditions that may be established by the corporation. It is also lawful for any institution of higher education to charge, contract for, and receive any amount or rate of interest or compensation, including amounts or rates of interest which may be varied or revised upon those terms or conditions that may be established by the institution, with respect to education loans.
History of Section.P.L. 1982, ch. 301, § 8; P.L. 1991, ch. 292, § 1.
Structure Rhode Island General Laws
Chapter 45-38.1 - Health and Educational Building Corporation
Section 45-38.1-1. - Declaration of policy.
Section 45-38.1-2. - Title of chapter.
Section 45-38.1-3. - Definitions.
Section 45-38.1-4. - Corporation established.
Section 45-38.1-5. - General grant of powers.
Section 45-38.1-5.1. - Powers relative to education loan financing programs.
Section 45-38.1-5.2. - Acquisition of certain monies, endowments, properties, and guarantees.
Section 45-38.1-5.3. - Conveyance of loan funding deposit after payment of bonds.
Section 45-38.1-6. - Acquisition of property.
Section 45-38.1-7. - Title to project.
Section 45-38.1-8. - Notes of the corporation.
Section 45-38.1-9. - Bonds of the corporation.
Section 45-38.1-10. - Trust agreement.
Section 45-38.1-11. - Revenues.
Section 45-38.1-12. - Trust funds.
Section 45-38.1-13. - Remedies.
Section 45-38.1-14. - Exemption from taxation.
Section 45-38.1-15. - Revenue refunding bonds.
Section 45-38.1-16. - Bonds eligible for investment.
Section 45-38.1-17. - Annual report and audit.
Section 45-38.1-18. - Source of payment of expenses.
Section 45-38.1-19. - State not liable.
Section 45-38.1-20. - Procedure before issuance of bonds or notes.
Section 45-38.1-21. - Agreement of the state.
Section 45-38.1-22. - Chapter cumulative — No notice required.
Section 45-38.1-23. - Chapter liberally construed.
Section 45-38.1-24. - Severability.
Section 45-38.1-25. - Institution for higher education powers.
Section 45-38.1-26. - Transfer of fund balances.
Section 45-38.1-27. - Development of Narragansett Brewery site.