§ 2863.
133 words·~1 min read·
/vt/title-16/chapter-87/2863A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 2863. Guarantee
The Corporation is authorized to guarantee that any education loan notes properly executed shall be repaid according to their tenor and, if guaranteed under the Higher Education Act, to the extent authorized under that act, provided, that in the event of default, the holder has complied with the rules, regulations, and procedures of the Corporation, and with the Act and the regulations promulgated under the Act, regarding the making, servicing, and diligent collection of education loans until assigned to the Corporation as provided in this chapter.
The Corporation may make loans that have no guarantee. (Added 1965, No. 198, § 7(c); amended 1975, No. 170 (Adj. Sess.), § 4; 1993, No. 147 (Adj. Sess.), § 4; 2003, No. 86 (Adj. Sess.), § 25; 2019, No. 131 (Adj. Sess.), § 102.)