reglab/housing_qa huggingface dataset:
MA Gen L ch 15c § 6 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title II - Executive and Administrative Officers of the Commonwealth|Chapter 15c - Massachusetts College Student Loan Authority|Section 6 - Payment of Expenses

Section 6. All expenses incurred in carrying out the provisions of this chapter shall be payable solely from funds provided under the authority of this chapter and no liability or obligations shall be incurred by the Authority hereunder beyond the extent to which monies shall have been provided under the provisions of this chapter.
MA Gen L ch 15c § 7 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title II - Executive and Administrative Officers of the Commonwealth|Chapter 15c - Massachusetts College Student Loan Authority|Section 7 - Guidelines for Deposits of Monies, Endowments, etc.; Default Reserve Fund

Section 7. The Authority is authorized and empowered to establish specific guidelines relating to the deposits of certain monies, endowments, or properties by institutions for higher education which would provide security for education loans funding programs, Authority loans, education loans or for bonds and to establish guidelines relating to guarantees of or contracts to purchase education loans, tuition agreements or bonds by such institutions or by financial institutions or others. A default reserve fund may be established for each series or issue of bonds. In this regard, the Authority is empowered to receive such monies, endowments, properties, and guarantees as it deems appropriate and, if necessary, to take title in the name of the Authority or in the name of a participating institution for higher education or a trustee.
MA Gen L ch 15c § 8 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title II - Executive and Administrative Officers of the Commonwealth|Chapter 15c - Massachusetts College Student Loan Authority|Section 8 - Conveyance of Assets Comprising Loan Funding Deposits

Section 8. When the principal of, interest on and premium, if any, due in connection with bonds of the Authority issued to finance the cost of an education loan financing program or programs, including any refunding bonds issued to refund and refinance such bonds, have been fully paid and retired or when adequate provision has been made to fully pay and retire the same, and all other conditions of the bond resolution authorizing the same have been satisfied and the security interest or lien created by such bond resolution has been released in accordance with the provisions thereof, the Authority shall promptly do such things and execute such deeds and conveyances as are necessary and required to convey any remaining monies, properties and other assets comprising loan funding deposits to the participating institutions for higher education which furnished the same in proportion to the amounts furnished by the respective participating institutions for higher education.
MA Gen L ch 15c § 9 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title II - Executive and Administrative Officers of the Commonwealth|Chapter 15c - Massachusetts College Student Loan Authority|Section 9 - Negotiable Notes; Issuance; Terms or Conditions

Section 9. The Authority may from time to time issue negotiable notes for any corporate purpose and may from time to time renew any notes by the issuance of new notes, whether the notes to be renewed have or have not matured. The Authority may issue notes partly to renew notes or to discharge other obligations then outstanding and partly for any other purpose. The notes may be authorized, sold, executed and delivered in the same manner as bonds. Any resolution or resolutions authorizing notes of the Authority or any issue thereof may contain any provisions which the Authority is authorized to include in any resolution or resolutions authorizing revenue bonds of the Authority or any issue thereof, and the Authority may include in any notes any terms, covenants or conditions which it is authorized to include in any bonds. Such resolution or resolutions may delegate to the executive director, assistant executive director, or any member of the Authority or any combination of them, the power to determine any of the details of the notes and to award such notes to a purchaser or purchasers. All such notes shall be payable solely from the revenues of the Authority, subject only to any contractual rights of the holders of any of its notes or other obligations then outstanding.
MA Gen L ch 15c § 11 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title II - Executive and Administrative Officers of the Commonwealth|Chapter 15c - Massachusetts College Student Loan Authority|Section 11 - Trust Agreements as Security for Revenue Bonds or Notes; Provisions of Trust Agreements

Section 11. In the discretion of the Authority any revenue bonds or notes issued under the provisions of this chapter may be secured by a trust agreement by and between the Authority and a corporate trustee or trustees, which may be any trust company or bank having the powers of a trust company within the commonwealth. Such trust agreement or resolution providing for the issuance of such revenue bonds or notes may contain such provisions for protecting and enforcing the rights and remedies of the bondholders or noteholders as may be reasonable and proper and not in violation of law, including particularly such provisions as have hereinabove been specifically authorized to be included in any resolution or resolutions of the Authority authorizing revenue bonds or notes thereof. Any bank or trust company incorporated under the laws of the commonwealth which may act as depository of the proceeds of bonds or notes or of revenues or other monies may furnish such indemnity bonds or pledge such securities as may be required by the Authority. Any such trust agreement may set forth the rights and remedies of the bondholders or noteholders and of the trustee or trustees, and may restrict the individual right of action by bondholders or noteholders. In addition to the foregoing, any such trust agreement or resolution may contain such other provisions as the Authority may deem reasonable and proper for the security of the bondholders or noteholders. All expenses incurred in carrying out the provisions of such trust agreement or resolution may be treated as a part of the cost of the education loan program.
MA Gen L ch 15c § 12 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title II - Executive and Administrative Officers of the Commonwealth|Chapter 15c - Massachusetts College Student Loan Authority|Section 12 - Payment of Bonds or Notes; Liability of Commonwealth

Section 12. Revenue bonds or notes issued under the provisions of this chapter shall not be deemed to constitute a debt or liability of the commonwealth or of any political subdivision thereof or a pledge of the faith and credit of the commonwealth or of any such political subdivision, but shall be payable solely from the funds herein provided therefor from revenues. All such revenue bonds or notes shall contain on the face thereof a statement to the effect neither the commonwealth nor the Authority shall be obligated to pay the same or the interest thereon except from revenues of the education loan program or programs or the portion thereof for which they are issued and that neither the faith and credit nor the taxing power of the commonwealth or of any political subdivision thereof is pledged to the payment of the principal of or the interest on such bonds or notes. The issuance of revenue bonds or notes under the provisions of this chapter shall not directly or indirectly or contingently obligate the commonwealth or any political subdivision thereof to levy or to pledge any form of taxation whatever therefor or to make any appropriation for their payment.
MA Gen L ch 15c § 14 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title II - Executive and Administrative Officers of the Commonwealth|Chapter 15c - Massachusetts College Student Loan Authority|Section 14 - Monies Received; Trust Funds

Section 14. All monies received pursuant to the Authority of this chapter, whether as proceeds from the sale of bonds or notes, in connection with any savings program or as revenues, shall be deemed to be trust funds to be held and applied solely as provided in this chapter. Any officer with whom, or any bank or trust company with which, such monies shall be deposited shall act as trustee of such monies and shall hold and apply the same for the purposes hereof, subject to such regulations as this chapter and the resolution authorizing the bonds or notes of any issue or the trust agreement securing such bonds or notes may provide.
MA Gen L ch 15c § 14a (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title II - Executive and Administrative Officers of the Commonwealth|Chapter 15c - Massachusetts College Student Loan Authority|Section 14a - State Colleges and Universities Participation Fund

Section 14A. Notwithstanding any special or general law to the contrary, the board of trustees of each institution referred to in this section shall have the authority to enter into such contracts, subject to appropriation, as in their respective judgments are desirable in order to participate in any program established pursuant to this chapter. The Authority shall establish a state colleges and universities participation fund to which shall be credited all state appropriations and other monies made available to the fund. Moneys in the fund may be used solely for the purpose of supporting the participation in the education loan program established pursuant to this chapter of state colleges and institutions under the control of the board of trustees of state colleges, the University of Lowell, the Southeastern Massachusetts University, the University of Massachusetts and the other institutions named in section three of chapter fifteen A. Monies therein may be held in custody by one or more banks or trust companies having a principal place of business in the commonwealth or may be invested in the manner set forth in section eighteen, as the Authority shall determine. Income earned on the fund may be used for any lawful purpose of the Authority. The Authority may pledge all or a portion of the monies or investments which are to be deposited in the fund, or any income therefrom, in furtherance of the purpose for which such fund is created. Such pledge shall be valid and binding as against all parties having claims of any kind against such fund from the time such pledge is made, irrespective of whether such parties have notice thereof.
MA Gen L ch 15c § 14b (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title II - Executive and Administrative Officers of the Commonwealth|Chapter 15c - Massachusetts College Student Loan Authority|Section 14b - College Opportunity Fund; Purposes; Pledges

Section 14B. The Authority shall establish, in such form as it deems appropriate, a college opportunity fund, hereinafter referred to as the fund, to which shall be credited all state appropriations and other monies made available to the fund and all income earned on amounts in the fund. Monies in the fund, together with earnings thereon, may be used solely for the purpose of developing, promoting, administering or supporting savings programs and tuition agreements established under this chapter. Monies therein may be held in custody by one or more banks or trust companies having a principal place of business in the commonwealth or may be invested in the manner set forth in section eighteen, as the Authority shall determine. The Authority may pledge all or a portion of the monies or investments which are to be deposited in the fund, or any income therefrom, in furtherance of the purpose for which such fund is created. Such pledge shall be valid and binding as against all parties having claims of any kind against such fund from the time such pledge is made, irrespective of whether such parties have notice thereof.
MA Gen L ch 15c § 15 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title II - Executive and Administrative Officers of the Commonwealth|Chapter 15c - Massachusetts College Student Loan Authority|Section 15 - Holders of Revenue Bonds, Notes, or Other Obligations, and Trustees; Enforcement of Rights; Compelling Performance of Duties of Authority

Section 15. Any holder of revenue bonds, notes, bond anticipation notes, other notes or other obligations of the Authority issued under the provisions of this chapter or any of the coupons appertaining thereto, and the trustee or trustees under any trust agreement, except to the extent the rights herein given may be restricted by any resolution authorizing the issuance of, or any such trust agreement securing, such bonds or other obligations, may, either at law or in equity, by suit, action, mandamus or other proceedings, protect and enforce any and all rights under the laws of the commonwealth or granted hereunder or under such resolution or trust agreement, and may enforce and compel the performance of all duties required by this chapter or by such resolution or trust agreement to be performed by the Authority or any officer, employee or agent thereof, including the appointment of a receiver to administer and operate the education loan program or programs, the revenues of which are pledged to the payment of principal of, premium, if any, and interest on such bonds or notes, with full power to pay, and to provide for payment of, principal of, premium, if any, and interest on such bonds or notes, and with such powers, subject to the direction of the court, as are permitted by law and are accorded receivers, excluding any power to pledge additional revenues of the Authority to the payment of such principal, premium and interest.
MA Gen L ch 15c § 16 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title II - Executive and Administrative Officers of the Commonwealth|Chapter 15c - Massachusetts College Student Loan Authority|Section 16 - Exercise of Powers for Benefit of Commonwealth; Tax Exempt Status

Section 16. The exercise of the powers granted by this chapter shall be in all respects for the benefit of the people of the commonwealth, for the increase of their commerce, welfare and prosperity, and for the improvement of their health and living conditions, and as operation of an educational program and assistance to students to secure a better education by the Authority or its agent shall constitute the performance of an essential public function, neither the Authority nor its agent shall be required to pay any taxes or assessments upon or in respect to a project or any property acquired or used by the Authority or its agent under the provisions of this chapter or upon the income therefrom, and any bond issued under the provisions of this chapter, their transfer and the income therefrom, including any profit made on the sale thereof, shall at all times be free from taxation of every kind by the commonwealth and by the municipalities and other political subdivisions in the commonwealth.
MA Gen L ch 15c § 17 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title II - Executive and Administrative Officers of the Commonwealth|Chapter 15c - Massachusetts College Student Loan Authority|Section 17 - Refunding of Outstanding Revenue Bonds or Notes; Investment and Reinvestment of Proceeds; Additional Loans

Section 17. (a) The Authority is hereby authorized to provide for the issuance of revenue bonds or notes of the Authority for the purposes of refunding any revenue bonds or notes of the Authority then outstanding, including the payment of any redemption premium thereon and any interest accrued or to accrue to the earliest or any subsequent date of redemption, purchase or maturity of such revenue bonds or notes, and, if deemed advisable by the Authority, for the additional purpose of making an additional Authority loan.  (b) The proceeds of any such revenue bonds or notes issued for the purpose of refunding outstanding revenue bonds may, in the discretion of the Authority, be applied to the purchase or retirement at maturity or redemption of such outstanding revenue bonds either on their earliest or any subsequent redemption date or upon the purchase or at the maturity thereof and may, pending such application, be placed in escrow to be applied to such purchase or retirement at maturity or redemption on such date as may be determined by the Authority.  (c) Any such escrowed proceeds pending such use may be invested and reinvested in direct obligations of the United States, or in certificates of deposit or time deposits secured by direct obligations of the United States, maturing at such time or times as shall be appropriate to assure the prompt payment, as to principal, interest and redemption premium, if any, of the outstanding revenue bonds to be so refunded. The interest, income and profits, if any, earned or realized on any such investment may also be applied to the payment of the outstanding revenue bonds to be so refunded. After the terms of the escrow have been fully satisfied and carried out, any balance of such proceeds and interest, income and profits, if any, earned or realized on the investments thereof may be returned to the Authority for use by it in any lawful manner.  (d) The portion of the proceeds of any such revenue bonds or notes issued for the additional purpose of making additional Authority loans may be invested and reinvested in direct obligations of the United States, or in certificates of deposit or time deposits secured by direct obligations of the United States, maturing not later than the time or times when such proceeds will be needed for the purpose of paying all or any part of such cost. The interest, income and profits, if any, earned or realized on such investment may be applied to the payment of all or any part of such cost or may be used by the Authority in any lawful manner.  (e) All such revenue bonds or notes shall be subject to the provisions of this chapter in the same manner and to the same extent as other revenue bonds issued pursuant to this chapter.
MA Gen L ch 15c § 19 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title II - Executive and Administrative Officers of the Commonwealth|Chapter 15c - Massachusetts College Student Loan Authority|Section 19 - Bonds as Investment Securities

Section 19. Bonds issued by the Authority under the provisions of this chapter are hereby made securities in which all public officers and public bodies of the commonwealth and its political subdivisions, all insurance companies, trust companies, savings banks, co-operative banks, banking associations, investment companies, executors, administrators, trustees and other fiduciaries may properly and legally invest funds, including capital in their control or belonging to them. Such bonds are hereby made securities which may properly and legally be deposited with and received by any commonwealth or municipal officer or any agency or political subdivision of the commonwealth for any purpose for which the deposit of bonds or obligations of the commonwealth is now or may hereafter be authorized by law.
MA Gen L ch 15c § 20 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title II - Executive and Administrative Officers of the Commonwealth|Chapter 15c - Massachusetts College Student Loan Authority|Section 20 - Report of Authority; Audit

Section 20. The Authority shall keep an accurate account of all its activities and of all its receipts and expenditures and shall annually make a report thereof as of the end of its fiscal year to its members, to the governor and to the state auditor, such reports to be in a form prescribed by the members, with the written approval of said auditor. The members or said auditor may investigate the affairs of the Authority, may severally examine the properties and records of the Authority, and may prescribe methods of accounting and the rendering of periodical reports in relation to projects undertaken by the Authority. The Authority shall be subject to audit by the state auditor, in accordance with generally accepted government auditing standards, once every 3 years and as often as the state auditor determines is necessary.
MA Gen L ch 15c § 21 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title II - Executive and Administrative Officers of the Commonwealth|Chapter 15c - Massachusetts College Student Loan Authority|Section 21 - Powers of Participating Higher Education Institutions; Interest Rates

Section 21. Notwithstanding any other provision of law, any participating institution for higher education shall have the power to borrow money from the Authority, make education loans, enter into tuition agreements, participate in savings programs and take all other actions and do such things as are necessary or convenient to consummate the transactions contemplated under this chapter. It shall be lawful for the Authority to establish, charge, contract for and receive any amount or rate of interest or compensation with respect to authority loans or education loans and it shall also be lawful, notwithstanding any other provision of law, to make authority loans or education loans at a rate of interest which may, during the life of such loans, be varied or revised upon such terms or conditions as may be established by the Authority. It shall also be lawful for any institution of higher education to charge, contract for and receive any amount or rate of interest or compensation, including amounts or rates of interest which may be varied or revised upon such terms or conditions as may be established by the institution, with respect to education loans.
MA Gen L ch 15c § 22 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title II - Executive and Administrative Officers of the Commonwealth|Chapter 15c - Massachusetts College Student Loan Authority|Section 22 - Employees; Social Security; Security Interests in Revenues and Receipts; Priority

Section 22. The Authority may take such action as it deems appropriate to enable its employees to come within the provisions and obtain the benefits of the Federal Social Security Act. If the employees of the Authority shall come within the provisions of said social security act, their employment shall be included in the term ''employment' as used in sections one to seven, inclusive, of chapter one hundred and fifty-one A.  Notwithstanding any provisions of chapter one hundred and six or of any other provision of law, the Authority by the filing of financing statements as provided in said chapter one hundred and six, may perfect security interests in revenues and receipts of participating institutions for higher education, whether in the form of proceeds of accounts receivable or contract rights, interest and principal payable on education loans or otherwise, and in any rights to receive such revenues and receipts, and such perfected security interests shall take priority over any subsequently perfected security interests in such revenues, receipts or rights or in the accounts receivable, payments of interest or principal, goods, contract rights, or other rights or personal property giving rise to such revenues, receipts or rights provided that the financing statements filed by the Authority contain a reference to this section.