reglab/housing_qa huggingface dataset:
AL Code § 16-33A-11 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 33A - Alabama Student Grant Program.|Section 16-33A-11 - Responsibility for Program Upon Cessation of Ache.

Section 16-33A-11Responsibility for program upon cessation of ACHE. Should ACHE cease to exist or function, the responsibility for the Alabama Student Grant Program shall be placed on its successor agency and, if none, then upon the State Board of Education. (Acts 1978, 2nd Ex. Sess., No. 90, p. 1778, §13.)
AL Code § 16-33B-1 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 33B - Alabama Guaranteed Student Loan Program.|Section 16-33B-1 - Definitions.

Section 16-33B-1Definitions. As used in this chapter, unless the context clearly requires a different meaning, the following words shall have the following meanings: (1) ACHE. The Alabama Commission on Higher Education. (2) APPROVED LENDER. Any eligible institution, or any bank, trust company, savings and loan association, credit union, pension fund, or insurance company, whose primary consumer credit function is not the making of insured student loans and which is examined and supervised by the appropriate state or federal regulatory agency or any other institution or agency defined as an eligible lender in accordance with the Federal Student Loan Law. (3) ELIGIBLE INSTITUTION. Any postsecondary educational institution which is approved by the Alabama Commission on Higher Education for the purposes of this program. However, an institution offering exclusively correspondence, independent study, or home study courses is not an eligible institution. (4) FEDERAL STUDENT LOAN LAW. Title IV of the Federal Higher Education Act of 1965, as amended (enacted by the Congress of the United States of America as Public Law 89-239) providing for a student loan insurance or guaranty program, as said Title IV (presently codified as 20 U.S.C. §1071, as amended, et seq.) may at any time be amended and supplemented, together with all federal regulations at the time applicable thereto, and any other or future federal student loan insurance or loan guaranty program or loan subsidy program which may be enacted by the Congress of the United States as a supplement thereto or replacement thereof. (5) FULL-TIME STUDENT. A student who is carrying the normal full-time academic workload and is maintaining satisfactory academic progress as defined by the educational institution in which that student is enrolled. (6) HALF-TIME STUDENT. A student who is carrying at least one half of the normal full-time academic workload as determined by the educational institution in which that student is enrolled. (7) RESIDENT OF ALABAMA. For purposes of this chapter, a resident is a person who attends an eligible institution within the State of Alabama, or who lives in Alabama and attends an eligible institution outside the state, or who obtains a guaranteed student loan from an approved lender. (8) STUDENT LOAN. A loan or extension of credit to an eligible borrower (including without limitation a parent of an eligible borrower) including the promissory note or other written agreement or instrument evidencing such loan or extension of credit in accordance with the applicable requirements of the Federal Student Loan Law. (Acts 1980, No. 80-733, p. 1484, §1; Acts 1988, 1st Ex. Sess., No. 88-866, p. 366, §1.)
AL Code § 16-33B-2 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 33B - Alabama Guaranteed Student Loan Program.|Section 16-33B-2 - Legislative Findings and Purposes.

Section 16-33B-2Legislative findings and purposes. The Legislature declares that there exists within the State of Alabama a lack of sufficient availability of loans to residents of Alabama who choose to attend a postsecondary educational institution and who have a financial need in order to pay a portion or all of such residents' educationally related expenses at the postsecondary educational institution. This chapter establishes a guaranteed student loan program which is intended to provide increased access to educational loans for Alabama residents. (Acts 1980, No. 80-733, p. 1484, §2.)
AL Code § 16-33B-3 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 33B - Alabama Guaranteed Student Loan Program.|Section 16-33B-3 - Administration of Program.

Section 16-33B-3Administration of program. The Alabama Guaranteed Student Loan Program created under this chapter shall be administered by the Alabama Commission on Higher Education. The Executive Director of the Alabama Commission on Higher Education shall have the primary responsibility for the administration of the program, including appropriate staffing, in accordance with the Federal Student Loan Law, and rules, regulations, policies, and procedures to be promulgated by the Alabama Commission on Higher Education. (Acts 1980, No. 80-733, p. 1484, §3; Acts 1988, 1st Ex. Sess., No. 88-866, p. 366, §1.)
AL Code § 16-33B-5 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 33B - Alabama Guaranteed Student Loan Program.|Section 16-33B-5 - Audit of Approved and Eligible Institutions.

Section 16-33B-5Audit of approved and eligible institutions. Each approved institution and eligible institution shall be subject to examination at any time by ACHE or the Examiner of Public Accounts for the purpose of determining whether such institution has complied with the provisions of this chapter and the rules and regulations promulgated pursuant to this chapter. (Acts 1980, No. 80-733, p. 1484, §5.)
AL Code § 16-33B-6 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 33B - Alabama Guaranteed Student Loan Program.|Section 16-33B-6 - False Statements or Misrepresentations.

Section 16-33B-6False statements or misrepresentations. Any person who knowingly makes or furnishes any false statement or misrepresentation, or who accepts such false statement or misrepresentation knowing the same to be false, for the purpose of enabling an individual or institution to wrongfully obtain moneys under this program, shall be guilty of a Class A misdemeanor and, upon conviction thereof, shall be subject to a fine or to imprisonment, or to both, as such misdemeanor is defined in Title 13A. (Acts 1980, No. 80-733, p. 1484, §6.)
AL Code § 16-33B-7 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 33B - Alabama Guaranteed Student Loan Program.|Section 16-33B-7 - Dissolution of Program; Vesting of Property.

Section 16-33B-7Dissolution of program; vesting of property. The loan program may not be dissolved until all guaranteed loans have been repaid by the borrowers, or if in default, by ACHE. Upon dissolution of the loan program, all the property and moneys of the program not owed to the federal government shall vest in the Education Trust Fund, or its successor fund. (Acts 1980, No. 80-733, p. 1484, §7.)
AL Code § 16-33B-8 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 33B - Alabama Guaranteed Student Loan Program.|Section 16-33B-8 - Legal Counsel for Program.

Section 16-33B-8Legal counsel for program. The Attorney General or his agent shall act as legal counsel to ACHE for the Alabama Guaranteed Student Loan Program. When the collection of loans on which ACHE has met its guarantee obligation requires legal action outside the State of Alabama, ACHE, upon recommendation of the Attorney General, may employ private, out-of-state counsel and expend its own funds to pay for this service. (Acts 1980, No. 80-733, p. 1484, §8.)
AL Code § 16-33C-1 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 33C - Wallace-Folsom Prepaid College Tuition Trust Fund.|Section 16-33C-1 - Legislative Intent.

Section 16-33C-1Legislative intent. The Legislature of Alabama hereby finds and determines that the advancement and improvement of higher education in the State of Alabama is a proper governmental function and purpose of the State of Alabama. Additionally, the Legislature of Alabama intends to establish a qualified ABLE Program in this state which will encourage and assist Alabama individuals and families in saving private funds for the purpose of supporting Alabama citizens with disabilities. It is therefore the legislative intent of this chapter to establish the Wallace-Folsom Savings Investment Plan that consists of the ABLE Program, ACES Program, and the PACT Program. In establishing this plan, it is further the intent of the Legislature to encourage timely financial planning for higher education and other qualified disability expenses. (Acts 1989, No. 89-862, p. 1717, §1; Acts 1990, No. 90-570, p. 970, §1; Act 2001-427, p. 544, §1; Act 2015-442, §1.)
AL Code § 16-33C-2 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 33C - Wallace-Folsom Prepaid College Tuition Trust Fund.|Section 16-33C-2 - Short Title.

Section 16-33C-2Short title. This chapter shall be known as the "Wallace-Folsom Savings Investment Plan Act." (Acts 1989, No. 89-862, p. 1717, §2; Act 2001-427, p. 544, §1; Act 2015-442, §1.)
AL Code § 16-33C-2.1 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 33C - Wallace-Folsom Prepaid College Tuition Trust Fund.|Section 16-33C-2.1 - Creation and Administration of Plan.

Section 16-33C-2.1Creation and administration of plan. There is hereby created the Wallace-Folsom Savings Investment Plan as an agency and instrumentality of the State of Alabama. The plan consists of the PACT Program, the ACES Program, and the ABLE Program. The plan shall be administered by the State Treasurer in accordance with the provisions of this chapter and rules, regulations, and guidelines established by the boards. The facilities and resources of the State Treasurer's office shall be used and employed in the administration of the plan. The official location of the plan shall be the State Treasurer's office. (Act 2001-427, p. 544, §2; Act 2015-442, §1.)
AL Code § 16-33C-4 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 33C - Wallace-Folsom Prepaid College Tuition Trust Fund.|Section 16-33C-4 - Composition of Aces Board.

Section 16-33C-4Composition of ACES board. (a) The Savings Board shall consist of 11 members as follows: (1) The Lieutenant Governor, or his or her designee. (2) The Executive Director of the Alabama Commission on Higher Education (ACHE), or his or her designee.  (3) The State Treasurer. (4) The Chancellor of the Alabama Community College System, or his or her designee.  (5) One person appointed by the Council of College and University Presidents. (6) One person appointed by the Speaker of the House of Representatives. (7) One person appointed by the Lieutenant Governor. (8) One person appointed by the State Treasurer. (9) Two persons appointed by the Governor. (10) One person appointed by the State Treasurer who has experience in health and disability related matters. (b) Members shall serve for terms of office of four years and shall be eligible for reappointment, and shall serve until a successor is appointed. Any person appointed to fill a vacancy on the Savings Board shall be appointed in a like manner and shall serve for only the unexpired term. Ex officio members of the board shall serve terms coincident with their terms of office. (c) Each person so appointed shall possess knowledge, skill, and experience in business or financial matters commensurate with the duties and responsibilities of the ABLE Program and ACES Program. (d) Members of the Savings Board shall serve without compensation, but may be reimbursed for each day's official duties of the board at the same per diem and travel rate as is paid the employees of the state. (e) The State Treasurer shall be the chair and presiding officer of the Savings Board, and the State Treasurer may appoint such other officers as the board may deem advisable or necessary. A majority of the members of the Savings Board shall constitute a quorum for the transaction of the business of the program. (f) Members of the Savings Board or any committee established by the Savings Board may participate in a meeting of the board or committee by means of telephone conference, video conference, or similar communications equipment by means of which all persons participating in the meeting may hear each other at the same time. Participation by such means shall constitute presence in person at a meeting for all purposes, including the establishment of a quorum. Notice of such meetings must be given in accordance with the Alabama Open Meetings Act and such telephone or video conference or similar communications equipment shall also allow members of the public the opportunity to simultaneously listen to or observe such meetings. (Acts 1989, No. 89-862, p. 1717, §4; Acts 1990, No. 90-570, p. 970, §1; Act 2001-427, p. 544, §1; Act 2006-62, p. 75, §1; Act 2010-725, p. 1800, §7; Act 2015-442, §1.)
AL Code § 16-33C-4.1 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 33C - Wallace-Folsom Prepaid College Tuition Trust Fund.|Section 16-33C-4.1 - Composition of Pact Board.

Section 16-33C-4.1Composition of PACT board. (a) The PACT board shall consist of 15 members as follows: (1) The Director of Finance. (2) The State Treasurer. (3) Two persons appointed by the Governor. (4) Two persons appointed by the Speaker of the House of Representatives, one of whom shall be a PACT contract holder. (5) One person appointed by the Lieutenant Governor. (6) One person appointed by the Senate President Pro Tempore. (7) The President of the Council of College and University Presidents or his or her designee. (8) The Chancellor of the Postsecondary Education Department or his or her designee. (9) The Executive Director of the Alabama Commission on Higher Education. (10) One member of the House of Representatives appointed by the Speaker of the House of Representatives. (11) One member of the Senate appointed by the Lieutenant Governor. (12) The Chief Executive Officer of the Retirement Systems of Alabama or his or her designee. (13) The President of the Alabama Association of Independent Colleges and Universities or his or her designee. (b) Members shall serve for terms of office of four years and shall be eligible for reappointment, and shall serve until a successor is appointed. Any person appointed to fill a vacancy on the PACT board shall be appointed in a like manner and shall serve for only the unexpired term. (c) With the exception of those members serving on the PACT board by virtue of their respective offices, a person appointed to the PACT board shall be an expert in the field of investments, market analysis, or financial planning, or on similar matters commensurate with the duties and responsibilities of the plan. Additionally, all members of the PACT board have the fiduciary responsibility to devise and implement an investment strategy designed to maximize investment returns in a manner that correlates with future projected benefit payouts. (d) Members of the PACT board shall serve without compensation, but may be reimbursed for each day's official duties of the PACT board at the same per diem and travel rate as is paid the employees of the state. (e) The State Treasurer shall be the chair and presiding officer of the PACT board, and the State Treasurer may appoint such other officers as the PACT board may deem advisable or necessary. A majority of the members of the PACT board shall constitute a quorum for the transaction of the business of the plan. (f) The membership of the PACT board shall be inclusive and reflect the racial, gender, geographic, urban/rural, and economic diversity of the state. The PACT board shall annually report to the Legislature by the fifth legislative day of each regular session the extent to which the PACT board has complied with the diversity provisions provided for in this subsection. (Act 2010-725, p. 1800, §8.)
AL Code § 16-33C-4.2 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 33C - Wallace-Folsom Prepaid College Tuition Trust Fund.|Section 16-33C-4.2 - Transition for Pact Board.

Section 16-33C-4.2Transition for PACT board. It is the intent of the Legislature that there be an orderly transition between the current PACT board and the PACT board created in Section 16-33C-4.1. As a result, on June 1, 2010, the PACT-related responsibilities of the current PACT board shall terminate and the term of office of the members of the PACT board created in Section 16-33C-4.1 shall commence. Additionally, the PACT board created in Section 16-33C-4.1 shall hold its first official meeting prior to July 1, 2010. (Act 2010-725, p. 1800, §9.)
AL Code § 16-33C-5 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 33C - Wallace-Folsom Prepaid College Tuition Trust Fund.|Section 16-33C-5 - Powers of Board.

Section 16-33C-5Powers of board. In addition to the powers granted by any other provision of this chapter, the Savings Board and PACT board shall have, as agents of the State of Alabama, the powers necessary or convenient to carry out the purposes and provisions of this chapter, to develop and implement the ABLE Program, ACES Program and the PACT Program, and the powers delegated by any other law of the state or any executive order thereof including, but not limited to, the following express powers: (1) To adopt and amend bylaws. (2) To adopt the rules and regulations necessary to implement the provisions of this chapter either with or without compliance with the state Administrative Procedure Act. (3) To invest as they deem appropriate any funds in the plan in any instrument, obligation, security, or property that constitutes legal investments for public funds in the state, including legal investments for the State Treasurer and the Alabama Trust Fund, and to name and use depositories for its investments and holdings. (4) To contract with a purchaser under the PACT Program. (5) To enter into savings agreements under the ABLE Program and ACES Program. (6) To enter into and execute contracts and other instruments for necessary goods and services, to employ necessary personnel, and to engage the services of qualified persons and entities for administrative and technical assistance in carrying out the responsibilities of the plan, under terms and conditions that the PACT board or Savings Board deems reasonable and appropriate. All such contracts awarded by the PACT board or Savings Board may be for periods not exceeding five years, except that professional services contracts awarded by the Savings Board may be for periods not exceeding ten years. (7) To contract with other states to participate under the rules of another state's qualified ABLE Program or to authorize the participation of a contracting state in the Alabama ABLE Program. (8) To apply for, accept, and expend gifts, grants, or donations from public or private sources to enable it to carry out its objectives and the purposes of this chapter. (9) To define the terms and conditions of and enter into PACT contracts and savings agreements. (10) To delegate to the State Treasurer the responsibilities of the day-to-day administration of the plan. (11) To establish other policies, procedures, and criteria necessary to implement and administer the provisions of this chapter. (12) To authorize the State Treasurer to approve marketing material produced for the plan. Neither the state, the State Treasurer, the PACT board, nor the Savings Board is liable for misrepresentation by a marketing agent. (Acts 1989, No. 89-862, p. 1717, §5; Acts 1990, No. 90-570, p. 970, §1; Act 2001-427, p. 544, §1; Act 2010-725, p. 1800, §7; Act 2015-442, §1.)
AL Code § 16-33C-8 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 33C - Wallace-Folsom Prepaid College Tuition Trust Fund.|Section 16-33C-8 - Additional Pact Duties of Board.

Section 16-33C-8Additional PACT duties of board. In addition to any other requirements of this chapter, the PACT board shall: (1) Make available summary information on the financial condition of the PACT Program to all purchasers of PACT contracts. (2) Prepare, or cause to be prepared, an annual report of the PACT Program, including details regarding the actuarial soundness of the program, and transmit a copy of same to the Governor, the Lieutenant Governor, and the Speaker of the House of Representatives. Such report shall be submitted not later than the fifth legislative day of the regular legislative session. Additionally, such report shall be presented during annual legislative budget hearings. (3) Make all necessary and appropriate arrangements with colleges and universities in order to fulfill its obligations under PACT contracts. (4) Submit, before any PACT-related investment or administrative contract is duly executed, a request for proposals (RFP). (5) Require, before any PACT-related investment or administrative contract is duly executed, such contract to be approved by a majority vote of the PACT board. (6) Prepare, or cause to be prepared, a quarterly report detailing the current projected funding status of the PACT Program, with a copy of such report transmitted to the Governor, the Lieutenant Governor, and the Speaker of the House of Representatives. (7) Establish specific investment guidelines that include failsafe measures designed to limit future susceptibility of PACT investments to extreme market fluctuations. (Acts 1989, No. 89-862, p. 1717, §8; Acts 1990, No. 90-570, p. 970, §1; Acts 1997, No. 97-547, p. 957, §1; Act 2001-427, p. 544, §1; Act 2010-725, p. 1800, §7.)
AL Code § 16-33C-9 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 33C - Wallace-Folsom Prepaid College Tuition Trust Fund.|Section 16-33C-9 - Dissolution of Pact Program.

Section 16-33C-9Dissolution of PACT Program. Repealed by Act 2010-725, p. 1800, §10, effective April 30, 2010. (Act 2001-427, p. 544, §2.)
AL Code § 16-33C-12 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 33C - Wallace-Folsom Prepaid College Tuition Trust Fund.|Section 16-33C-12 - Additional Duties of Savings Board.

Section 16-33C-12Additional duties of Savings Board. In addition to any other requirements of this chapter, the Savings Board shall: (1) Make available summary information on the ABLE Program and ACES Program to all contributors to savings agreements. (2) Prepare, or cause to be prepared, an annual accounting of the ABLE Program and ACES Program and transmit a copy of same to the Governor, the Lieutenant Governor, and the Speaker of the House of Representatives. (3) Make all necessary and appropriate arrangements with colleges and universities in order to fulfill its obligations under savings agreements. (Act 2001-427, p. 544, §2; Act 2010-725, p. 1800, §7; Act 2015-442, §1.)
AL Code § 16-33C-13 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 33C - Wallace-Folsom Prepaid College Tuition Trust Fund.|Section 16-33C-13 - Dissolution of Aces Program.

Section 16-33C-13Dissolution of ACES Program.  In the event of dissolution of the ACES Program by the Alabama Legislature, any balances which remain in the ACES Trust Fund and in the ACES Administrative Fund after all costs and liabilities of the ACES Program have been paid, shall be returned to contributors according to savings agreements. Any unclaimed assets remaining in the ACES Program thereafter shall be administered in accordance with the Alabama Uniform Disposition of Unclaimed Property Act, Article 2 of Chapter 12 of Title 35. (Act 2001-427, p. 544, §2.)
AL Code § 16-33C-14 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 33C - Wallace-Folsom Prepaid College Tuition Trust Fund.|Section 16-33C-14 - Appropriations From the Education Trust Fund to the Pact Program.

Section 16-33C-14Appropriations from the Education Trust Fund to the PACT Program. Repealed by Act 2015-538, 2nd Sp. Sess., §2, effective September 17, 2015. (Act 2010-725, p. 1800, §1.)
AL Code § 16-33C-15 (2021)
2021 Code of Alabama|Title 16 - Education.|Chapter 33C - Wallace-Folsom Prepaid College Tuition Trust Fund.|Section 16-33C-15 - Appropriations From the Education Trust Fund to the Pact Trust Fund; Purpose.

Section 16-33C-15Appropriations from the Education Trust Fund to the PACT Trust Fund; purpose. Repealed by Act 2015-538, 2nd Sp. Sess., §2, effective September 17, 2015. (Act 2010-725, p. 1800, §2.)