3078

LAWS OF MARYLAND

Ch. 488

CHAPTER 488

(House Bill 1617)

AN ACT concerning

The Maryland Higher Education
Supplemental Loan Authority

FOR the purpose of creating the Maryland Higher Education
Supplemental Loan Authority; providing for the
membership, powers, duties and organization of the
Authority; providing that the Authority may issue bonds
for its corporate purposes related to loans for
students or parents of students to assist in financing
the cost of higher education; providing for the terms
and manner of issuance of the bonds; defining certain
terms; and generally relating to the Authority, its
borrowing powers, and the financing of student loans by
the Authority.

BY adding to

Article - Education

Section 18-1301 through 18-1319, inclusive, to be under
the new subtitle "Subtitle 13. The Maryland
Higher Education Supplemental Loan Authority"

Annotated Code of Maryland

(1978 Volume and 1981 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
read(s) as follows:

Article - Education

SUBTITLE 13. MARYLAND HIGHER EDUCATION
SUPPLEMENTAL LOAN AUTHORITY

18-1301. LEGISLATIVE FINDINGS AND DECLARATION OF PURPOSE.

(A) THE GENERAL ASSEMBLY MAKES THE FOLLOWING FINDINGS:

(1) FOR THE BENEFIT OF THE PEOPLE OF THE STATE
OF MARYLAND, THE CONDUCT AND INCREASE OF THEIR COMMERCE, THE
PROTECTION AND ENHANCEMENT OF THEIR WELFARE, THE DEVELOPMENT
OF CONTINUED PROSPERITY AND THE IMPROVEMENT OF THEIR HEALTH
AND LIVING CONDITIONS, IT IS ESSENTIAL THAT THIS AND FUTURE
GENERATIONS OF YOUTH BE GIVEN THE FULLEST OPPORTUNITY TO
LEARN AND TO DEVELOP THEIR INTELLECTUAL AND MENTAL
CAPACITIES AND SKILLS;

(2) TO ACHIEVE THESE ENDS IT IS OF THE UTMOST
IMPORTANCE THAT STUDENTS ATTENDING INSTITUTIONS OF HIGHER