Ch. 735

LAWS OF MARYLAND

CHAPTER 735

(House Bill 1308)

AN ACT concerning

Maryland Higher Education Supplemental Loan Authority - Student

Financial Assistance

FOR the purpose of providing that the Maryland Higher Education
Supplemental Loan Authority may make education loans
directly to qualified borrowers; providing that education
loans include direct loans from the Authority to qualified
borrowers; clarifying the parties which may enter into any
trust agreement securing bonds of the Authority; providing
that the Authority may invest funds in certain obligations;
providing for the construction and interpretation of this
Act; and generally relating to loans made and bonds issued
by the Authority.

BY repealing and reenacting, with amendments,

Article - Education                                                                           

Section 18-1302(c) and (j), 18-1306(g), 18-1310(a), and
18-1314(a)
Annotated Code of Maryland

(1985 Replacement Volume and 1986 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Education

18-1302.

(c) "Authority loans" means loans by the Authority to
institutions of higher education OR OTHER PARTIES for the purpose
of funding education loans.

(j) "Education loan" means a loan which is made by THE
AUTHORITY OR BY OR ON BEHALF OF an institution to a student or to
parents of a student, or both, in amounts not in excess of the
maximum amounts specified by the Authority to finance a part or
all of the cost of the student's attendance at [that] AN
institution.

18-1306.

(g) The Authority may:

(1) Issue bonds for any of its corporate purposes and
borrow funds as working capital for its operations;

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