§ 45-38.1-25 — § 45-38.1-25. Educational institution powers.

Rhode Island § 45-38.1-25

• Jurisdiction: Rhode Island
• Title 45: Towns and cities
• Ch. 45-38.1: Health and Educational Building Corporation

Text

§ 45-38.1-25. Educational institution powers.

Notwithstanding any other provision of law, any participating educational institution 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.

Legislative History

P.L. 1982, ch. 301, § 8; P.L. 1991, ch. 292, § 1; P.L. 2025, ch. 79, § 1, effective June 17, 2025; P.L. 2025, ch. 80, § 1, effective June 17, 2025.