58-5-154. "Qualified education loan insurer" defined.
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/sd/title-58/chapter-58-5/58-5-154A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The term, qualified education loan insurer, means a domestic stock insurer formed under chapter 58-5 for the principal purposes of transacting surety insurance, in this state only, in the education loan market and principally or beneficially owning or through a wholly - owned subsidiary investing in education loans, including loans originated in accordance with the terms of the Higher Education Act of 1965, as amended.