3086

LAWS OF MARYLAND

Ch. 488

(2)  FIX, REVISE, CHARGE AND COLLECT RATES, FEES
AND CHARGES FOR THE SERVICES FURNISHED OR TO BE FURNISHED BY
THE AUTHORITY AND CONTRACT WITH ANY PERSON, INCLUDING
FINANCIAL INSTITUTIONS, LOAN ORIGINATORS, SERVICERS,
ADMINISTRATORS, ISSUERS OF LETTERS OF CREDIT, AND INSURERS;

(3)  EMPLOY CONSULTANTS, ATTORNEYS, ACCOUNTANTS,
FINANCIAL EXPERTS, LOAN PROCESSORS, BANKERS, MANAGERS, AND
OTHER EMPLOYEES AND AGENTS AS MAY BE NECESSARY IN ITS
JUDGMENT, AND FIX THEIR COMPENSATION;

(4)  ESTABLISH REGULATIONS, CRITERIA OR
GUIDELINES WITH RESPECT TO AUTHORITY LOANS, EDUCATION LOANS,
AND EDUCATION LOAN SERIES PORTFOLIOS;

(5)  RECEIVE AND ACCEPT FROM ANY SOURCE AND IN
ANY FORM, LOANS, APPROPRIATIONS, CONTRIBUTIONS, GIFTS, OR
GRANTS FOR OR IN AID OF ANY AUTHORITY PURPOSE OR EDUCATION
LOAN FINANCING PROGRAM AND, WHEN REQUIRED, USE THE FUNDS,
PROPERTY OR LABOR ONLY FOR THE PURPOSES FOR WHICH IT WAS
PROVIDED;

(6)  MAKE AUTHORITY LOANS TO INSTITUTIONS AND
REQUIRE THAT THE PROCEEDS OF THE LOANS BE USED FOR MAKING
EDUCATION LOANS AND PAYING RELATED LOAN COSTS AND FEES;

(7)  CHARGE TO AND APPORTION AMONG PARTICIPATING
INSTITUTIONS ITS ADMINISTRATIVE AND OPERATING COSTS AND
EXPENSES INCURRED IN THE EXERCISE OF ITS POWERS AND DUTIES;
AND

(8)  DO ALL ACTS AND THINGS NECESSARY OR
CONVENIENT TO CARRY OUT ITS CORPORATE PURPOSES AND IN SUCH
MANNER AND UPON SUCH PROCEDURE AS THE AUTHORITY MAY IN ITS
DISCRETION FROM TIME TO TIME DETERMINE OR PRESCRIBE.

(H) NOTWITHSTANDING ANY OTHER PROVISION CONTAINED IN
THIS SUBTITLE, THE AUTHORITY MAY COMMINGLE AND PLEDGE AS
SECURITY FOR A SERIES OR ISSUE OF BONDS, WITH THE CONSENT OF
ALL OF THE INSTITUTIONS WHICH ARE PARTICIPATING IN THE
SERIES OR ISSUE:

(1)  THE EDUCATION LOAN SERIES PORTFOLIOS AND
SOME OR ALL FUTURE EDUCATION LOAN SERIES PORTFOLIOS OF THE
INSTITUTIONS; AND

(2)  THE LOAN FUNDING DEPOSITS OF THE
INSTITUTIONS IF EDUCATION LOAN SERIES PORTFOLIOS AND OTHER
SECURITY AND MONEYS SET ASIDE IN ANY FUND OR FUNDS PLEDGED
FOR ANY SERIES OR ISSUE OF BONDS ARE HELD FOR THE SOLE
BENEFIT OF THE SERIES OR ISSUE SEPARATE AND APART FROM
EDUCATION LOAN SERIES PORTFOLIOS AND OTHER SECURITY AND
MONEYS PLEDGED FOR ANY OTHER SERIES OR ISSUE OF BONDS OF THE
AUTHORITY.