Iowa § 261A.16 Funds for sales of obligations as trust funds — application of funds

Iowa Statutes

§ 261A.16 — Funds for sales of obligations as trust funds — application of funds

Iowa § 261A.16

Title VIIEDUCATION, HISTORY, AND CULTURE

Ch. 261AHIGHER EDUCATION LOAN AUTHORITY (PRIVATE INSTITUTIONS)

This text of Iowa § 261A.16 (Funds for sales of obligations as trust funds — application of funds) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 261A.16 (2026).

Text

Moneys received by or on behalf of the authority under this chapter, whether as proceeds
from the sale of obligations or as revenues, are trust funds to be held and applied as provided
§261A.16, HIGHER EDUCATION LOAN AUTHORITY (PRIVATE INSTITUTIONS) 10
in this chapter. An officer with whom, or a bank or trust company with which the moneys
are deposited shall act as trustee of the moneys and shall hold and apply the moneys for the
purposesofthischapter, subjecttorulesthatthischapterandthebondresolutionauthorizing
the obligations of an issue may provide.
[82 Acts, ch 1031, §16]

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Moneys received by or on behalf of the authority under this chapter, whether as proceeds
from the sale of obligations or as revenues, are trust funds to be held and applied as provided
§261A.16, HIGHER EDUCATION LOAN AUTHORITY (PRIVATE INSTITUTIONS) 10
in this chapter. An officer with whom, or a bank or trust company with which the moneys
are deposited shall act as trustee of the moneys and shall hold and apply the moneys for the
purposesofthischapter, subjecttorulesthatthischapterandthebondresolutionauthorizing
the obligations of an issue may provide.
[82 Acts, ch 1031, §16]