§ 1086. Delegation of functions
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/usc/title-20/section-1086A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)In general An eligible lender or guaranty agency that contracts with another entity to perform any of the lender’s or agency’s functions under this subchapter, or otherwise delegates the performance of such functions to such other entity—
(1)shall not be relieved of the lender’s or agency’s duty to comply with the requirements of this subchapter; and
(2)shall monitor the activities of such other entity for compliance with such requirements.
(b)Special rule A lender that holds a loan made under this part in the lender’s capacity as a trustee is responsible for complying with all statutory and regulatory requirements imposed on any other holder of a loan made under this part.
(Pub. L. 89–329, title IV, § 436, as added Pub. L. 99–498, title IV, § 402(a), Oct. 17, 1986, 100 Stat. 1413; amended Pub. L. 105–244, title IV, § 430, Oct. 7, 1998, 112 Stat. 1709.)
Connections6 cite this · traces to 1
Cited by 6 sections
statutes-at-large
- Public Law 90–575
- Public Law 94–482To extend the Higher Education Act of 1995, to extend and revise the Vocational Education Act of 1983, and for other purposes
- Public Law 99–498To reauthorize and revise the Higher Education Act of 1965, and for other purposes
- Public Law 105–244To extend the authorization of programs under the Higher Education Act of 1965, and for other purposes
statute-compilations
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- Pub. L. 89–329, title IV, § 436
- Pub. L. 99–498, title IV, § 402(a)
- 100 Stat. 1413
- Pub. L. 105–244, title IV, § 430
- 112 Stat. 1709
- Pub. L. 89–752, § 12
- 80 Stat. 1244
- Pub. L. 90–575, title I, § 116(b)(5)
- 82 Stat. 1024
- Pub. L. 94–482, title I, § 127(a)
- 90 Stat. 2132
- Pub. L. 96–374, title XIII, § 1391(a)(1)
- 94 Stat. 1503
- Pub. L. 99–498
- Pub. L. 105–244
- section 3 of Pub. L. 105–244
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§ 1086
Delegation of functions
Stat.×4
Stat. Comp.×1
U.S.C.×1
Pub. L.Pub. L. 89–329, title IV, § 436
Pub. L.Pub. L. 99–498, title IV, § 402(a)
Stat.100 Stat. 1413
Pub. L.Pub. L. 105–244, title IV, § 430
Stat.112 Stat. 1709
Cites 17 · showing 6Cited by 6 across 3 sources