Montana Statutes
§ 20-26-1105 — Student Loan Account
Montana·Title 20 EDUCATION·Ch. 26 STUDENT FINANCIAL ASSISTANCE·Part 11 Guaranteed Student Loan Program
20-26-1105 . Student loan account.
(1)There is a student loan account within the federal special revenue fund provided for in 17-2-102 .
(2)The board shall credit to the account established in subsection (1) all money designated for the student loan program by the United States or by any other public or private source. All expenses incurred by the board in connection with the student loan program, including principal and interest payments required because of loan defaults, must be charged against the account.
(3)Money in the account not needed to meet current obligations of the board in the exercise of its responsibilities as guarantor and administrator, as provided for in this part, must be invested in accordance with the provisions of Title 17, chapter 6. Interest proceeds must be cre
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Legislative History
En. Sec. 7, Ch. 691, L. 1979; amd. Sec. 20, Ch. 281, L. 1983; amd. Sec. 1, Ch. 134, L. 1987; amd. Sec. 4, Ch. 700, L. 1989; amd. Sec. 12, Ch. 243, L. 1997.
Nearby Sections
15
§ 20-26-101
Short Title§ 20-26-102
Purpose -- Legislative Intent§ 20-26-103
Definitions§ 20-26-1101
Definitions§ 20-26-1102
Authorization To Establish Student Loan Program§ 20-26-1103
Duties Of Board§ 20-26-1104
Repealed§ 20-26-1105
Student Loan Account§ 20-26-1106
No State Obligation§ 20-26-1107
Dissolution -- Disposition Of Money§ 20-26-1108
Through 20-26-1110 Reserved§ 20-26-1111
Access To Governmental Records§ 20-26-1112
Through 20-26-1114 Reserved