reglab/statecodes huggingface dataset:
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.095 - Declaration of policy.

Title XI EDUCATION AND LIBRARIES
Chapter 173
• Effective - 28 Aug 1978
173.095. Declaration of policy. —
In recognition of the role of education in modern society and its influence upon whether or not a citizen will beneficially contribute to his state and community by his talents and developed abilities, and in recognition that educational opportunity should not be limited by the financial means of the student, and in further recognition of the public purposes designated by the United States through the Higher Education Act of 1965, P.L. 89-329, as amended, and the National Vocational Student Loan Insurance Act of 1965, P.L. 89-287, the general assembly of the state of Missouri declares that state assistance to postsecondary students will benefit the state economically and culturally and is a public purpose of great importance.
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(L. 1967 1st Ex. Sess. p. 894 § 1, A.L. 1978 H.B. 891)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.100 - Definitions.

Title XI EDUCATION AND LIBRARIES
Chapter 173
• Effective - 28 Aug 1994
173.100. Definitions. —
As used in sections 173.095 to 173.187 the following terms mean:
(1)
"Board"
, the Missouri coordinating board for higher education;
(2)
"Borrower"
, any person who has become legally obligated to repay a loan made under the student loan program or that person's guardian, trustee, estate, or other person legally responsible for defending against or satisfying borrower's obligations under the student loan program;
(3)
"Department"
, the Missouri department of higher education and workforce development;
(4)
"Earnings"
, compensation paid or payable for personal services, whether denominated wages, salary, commission, bonus, or otherwise;
(5)
"Eligible borrower"
, any person attending or the parent of a dependent attending an eligible institution;
(6)
"Eligible institution"
, any institution of postsecondary education, including a university, college, vocational and technical school, and other postsecondary institution, which has been approved for purposes of participation in the Missouri student loan program by the department and the United States Secretary of Education;
(7)
"Eligible lender"
, any bank, savings and loan association, credit union, insurance company, pension fund, eligible educational institution lender, or the department, or the federal Student Loan Marketing Association or other secondary market operation;
(8)
"Employer"
, any person, partnership, association, corporation, institution, governmental body, unit or agency, school district or municipal corporation, or any other entity employing one or more persons for a salary, wage, commission or other compensation, or any self-employed borrower;
(9)
"Fund"
, the state guaranty student loan fund;
(10)
"LLR fund"
, the lender of last resort revolving fund established in section 173.187;
(11)
"Program"
, the Missouri guaranteed student loan program.
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(L. 1967 1st Ex. Sess. p. 894 § 2, A.L. 1978 H.B. 891, A.L. 1981 H.B. 326, A.L. 1988 H.B. 1456, A.L. 1994 S.B. 583)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.105 - Board and department duties — required federal reports, submitted to whom.

Title XI EDUCATION AND LIBRARIES
Chapter 173
• Effective - 28 Aug 1994
173.105. Board and department duties — required federal reports, submitted to whom. —
1. The board shall determine the basic policies for the loan program and shall promulgate rules and regulations necessary to establish the loan program and to carry out the purposes of sections 173.095 to 173.180. The basic policies of the board and all rules and regulations promulgated pursuant to sections 173.095 to 173.180 shall be designed to encourage maximum involvement and participation by lenders and financial institutions in the student loan program. Lenders and financial institutions shall be encouraged by institutions of higher education to maximize the number of loans available to students. It shall be the responsibility of the coordinating board for higher education to establish guidelines and criteria for institutions of higher education for usage in maximizing the availability of student loans. The department shall be the administrative agency for the implementation of the program, and may employ such personnel as is necessary, in excess of the number provided in subsection 2 of section 6 of the omnibus state reorganization act of 1974, to administer the provisions of sections 173.095 to 173.230.
2. All reports relating to the program which are now or may hereafter be required by the federal government shall also be submitted to the director of the office of administration and to the senate and house appropriations committees.
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(L. 1978 H.B. 891, A.L. 1981 H.B. 326, A.L. 1993 S.B. 52, A.L. 1994 S.B. 583)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.110 - Department may guarantee student loans — subrogation — charges for guarantee — lender of last resort loans, origination — amount guaranteed, limit.

Title XI EDUCATION AND LIBRARIES
Chapter 173
• Effective - 28 Aug 1994
173.110. Department may guarantee student loans — subrogation — charges for guarantee — lender of last resort loans, origination — amount guaranteed, limit. —
1. The department is authorized to issue certificates of guarantee covering student loans by eligible lenders which meet the requirements of sections 173.095 to 173.180 and the regulations of the board adopted hereunder to eligible borrowers, and to pay from the fund to an eligible lender the amount established by federal law in the event the student defaults. Upon payment of the loss the department shall be subrogated to all the rights of the eligible lender.
2. The department shall charge for each guaranteed loan a special loan insurance premium established by federal law which shall be paid to the department by the borrower. Amounts so received shall be used by the department to pay the costs of administering the program and to guarantee student loans.
3. The department is authorized to originate loans, including lender of last resort loans. All moneys to originate loans, including lender of last resort loans, shall be paid from a fund established for that purpose, including the lender of last resort revolving fund created under section 173.187.
4. The total outstanding guaranteed loans shall at no time exceed an amount which, according to sound actuarial judgment as determined by the state auditor, can be guaranteed by the fund.
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(L. 1967 1st Ex. Sess. p. 894 § 3, A.L. 1978 H.B. 891, A.L. 1981 H.B. 326, A.L. 1994 S.B. 583)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.120 - State guaranty student loan fund established — purpose — no transfers from fund, exception — appropriations not to lapse.

Title XI EDUCATION AND LIBRARIES
Chapter 173
• Effective - 30 Apr 1982, see footnote
173.120. State guaranty student loan fund established — purpose — no transfers from fund, exception — appropriations not to lapse. —
1. The "State Guaranty Student Loan Fund" is established and shall consist of money appropriated to it by the general assembly, charges, gifts, grants and bequests from federal, private or other sources made for the purpose of assisting students in financing their education. Notwithstanding the provisions of section 33.080, no portion of the fund shall be transferred to the general revenue fund, except that in appropriations made for the fiscal year beginning July 1, 1982, the general assembly shall transfer six hundred thousand dollars from the fund to the general revenue fund, and any appropriation made to the fund shall not lapse, but the board shall hold the fund in the same manner as the curators of the University of Missouri and the other state educational institutions are directed to hold funds not subject to lapse or transfer.
2. All moneys recovered by the department for payments made on previously defaulted guaranteed loans shall be paid promptly into the state treasury and credited to the fund.
3. The fund shall be administered by the department.
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(L. 1967 1st Ex. Sess. p. 894 § 4, A.L. 1978 H.B. 891, A.L. 1982 S.B. 831)
Effective 4-30-82
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.125 - Dispute resolution requirements.

Title XI EDUCATION AND LIBRARIES
Chapter 173
• Effective - 28 Aug 2007
173.125. Dispute resolution requirements. —
As a condition of receiving state funds, every public institution of higher education shall agree to submit to binding dispute resolution with regard to disputes among public institutions of higher education that involve jurisdictional boundaries or the use or expenditure of any state resources whatsoever, as determined by the coordinating board. In all cases, the arbitrator shall be the commissioner of higher education or his or her designee, whose decision shall be binding on all parties. Any institution aggrieved by a decision of the commissioner may appeal such decision, in which instance the case shall be reviewed by the full coordinating board, at which time the full coordinating board shall have the authority to make a binding and final decision, by means of a majority vote, regarding the matter.
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(L. 2007 S.B. 389)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.130 - Funds not currently needed may be invested, how.

Title XI EDUCATION AND LIBRARIES
Chapter 173
• Effective - 28 Aug 1978
173.130. Funds not currently needed may be invested, how. —
Moneys in the fund, both unobligated and obligated as a reserve, which in the judgment of the board are not currently needed for the payment of defaults of guaranteed loans, may be invested by the state treasurer, and any income therefrom shall be deposited to the credit of the fund.
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(L. 1967 1st Ex. Sess. p. 894 § 5, A.L. 1978 H.B. 891)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.141 - Authorized actions of the board.

Title XI EDUCATION AND LIBRARIES
Chapter 173
• Effective - 28 Aug 1981
173.141. Authorized actions of the board. —
The board may:
(1) Enter into agreements with and receive grants from the United States government in connection with federal programs of assistance to students of postsecondary education;
(2) Contract with public agencies or private persons or organizations for the purpose of carrying out the administrative functions imposed upon it by sections 173.095 to 173.180;
(3) Call upon agencies of the state which have actuarial or financial expertise for consultation and advice, and upon any agency of the state for assistance in the location of delinquent borrowers.
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(L. 1981 H.B. 326)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.150 - Recovery of loans.

Title XI EDUCATION AND LIBRARIES
Chapter 173
• Effective - 28 Aug 1994
173.150. Recovery of loans. —
The board, by rules and regulations, shall determine the policy of collections and recovery of loans, including the use of private collection agencies or assigning loans to the United States Secretary of Education. Pursuant to the rules and regulations of the board the department may institute action to recover any amount due the program in any loan transaction, use private collection agencies, or otherwise carry out the policy set by the board.
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(L. 1967 1st Ex. Sess. p. 894 § 7, A.L. 1978 H.B. 891, A.L. 1994 S.B. 583)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.160 - Standards of eligibility for loans.

Title XI EDUCATION AND LIBRARIES
Chapter 173
• Effective - 28 Aug 1994
173.160. Standards of eligibility for loans. —
The board shall adopt and promulgate regulations establishing standards for determining eligible institutions, eligible lenders, and eligible borrowers under sections 173.095 to 173.180. These standards shall include, but are not limited to, the following:
(1) The student's enrollment in an eligible institution, where his good standing and workload meet the criteria of the institution;
(2) The total guaranteed loans made to a student for one academic year;
(3) The aggregate insured unpaid principal of all guaranteed loans made to any student;
(4) The loans received by the student other than those guaranteed under the provisions of sections 173.095 to 173.180;
(5) The need of the student for the loan;
(6) The proportion of guaranteed outstanding student loans in default or potential default status from individual institutions or lenders;
(7) The percentage of the enrolled students at an institution who have guaranteed student loans and then withdraw; and
(8) The proportion of students at an institution having received guaranteed loans.
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(L. 1967 1st Ex. Sess. p. 894 § 8, A.L. 1978 H.B. 891, A.L. 1981 H.B. 326, A.L. 1994 S.B. 583)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.170 - Standards of eligibility of loan agreements — discrimination prohibited.

Title XI EDUCATION AND LIBRARIES
Chapter 173
• Effective - 28 Aug 1994
173.170. Standards of eligibility of loan agreements — discrimination prohibited. —
1. The board shall adopt regulations establishing standards for determining eligibility of loan agreements to be guaranteed under the provisions of sections 173.095 to 173.180. The regulations shall provide for, but shall not be limited to, the following:
(1) The requirement or nonrequirement of security or endorsement;
(2) The manner and time of repayment of the principal and interest;
(3) The maximum rate of interest;
(4) The right of the borrower to accelerate payments without penalty;
(5) The amount of the guarantee charge;
(6) The effective period of the guarantee;
(7) The percent of the loan covered by the guarantee;
(8) The assignability of loans by the lender;
(9) Procedures in the event of default by the borrower;
(10) The due diligence effort on the part of lenders for collection of guaranteed loans;
(11) Collection assistance and supplemental preclaims assistance to be provided to lenders; and
(12) The extension of the guarantee in consideration of eligible deferments or forbearances.
2. The eligibility of any person for a student loan under the provisions of sections 173.095 to 173.180 shall not be determined or otherwise affected by any considerations of that person's race, religion, sex, creed, color, location of residence, or choice of eligible institution.
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(L. 1967 1st Ex. Sess. p. 894 § 10, A.L. 1978 H.B. 891, A.L. 1981 H.B. 326, A.L. 1994 S.B. 583)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.180 - Filing of regulations.

Title XI EDUCATION AND LIBRARIES
Chapter 173
• Effective - 28 Aug 1978
173.180. Filing of regulations. —
The regulations of the board for the program shall be filed with the secretary of state as provided by statute before they shall become effective.
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(L. 1967 1st Ex. Sess. p. 894 § 10, A.L. 1978 H.B. 891)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.186 - Guarantors of student loans, eligibility requirements.

Title XI EDUCATION AND LIBRARIES
Chapter 173
• Effective - 28 Aug 1986
173.186. Guarantors of student loans, eligibility requirements. —
Independent or private guarantors of student loans of Missouri residents attending Missouri postsecondary educational institutions shall be subject to the following provisions in order to be eligible to guaranty such loans:
(1) No such loan shall be guaranteed for attendance at a correspondence school, at a school which has been suspended or terminated from eligibility for the Missouri guaranteed student loan program by the Missouri guaranty agency, at a school which is not designated as an eligible institution for the Missouri guaranteed student loan program by the Missouri guaranty agency or at a school which has been designated as an eligible institution but does not participate;
(2) Each such guarantor of student loans shall file an annual report by each August fifteenth with the Missouri coordinating board for higher education giving, for the immediately preceding period of July first through June thirtieth and for each month therein and for each Missouri postsecondary institution attended by Missouri residents for which loans were guaranteed, the total number of loans guaranteed and the total dollar amount of such loans;
(3) The coordinating board for higher education shall develop and promulgate rules pursuant to and shall administer the provisions of these requirements. The coordinating board shall take reasonable action to identify and notify affected guaranty agencies, lenders and postsecondary educational institutions.
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(L. 1986 H.B. 1356 § 2 subsec. 1)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.187 - Lender of last resort revolving fund, established, administration.

Title XI EDUCATION AND LIBRARIES
Chapter 173
• Effective - 28 Aug 1994
173.187. Lender of last resort revolving fund, established, administration. —
1. The "Lender of Last Resort Revolving Fund" is hereby established in the state treasury and shall consist of funds received from the United States Secretary of Education, charges, gifts, grants, and bequests from federal, private or other sources made for the purpose of assisting students in financing their education. No portion of the fund shall be transferred to the general revenue fund.
2. The fund shall be administered by the program.
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(L. 1994 S.B. 583)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.196 - Business firm may make donation to higher education scholarship donation fund, tax credit — amount of credit, limitations, carry-over, transfer — use of fund — tax credits prohibited, when.

Title XI EDUCATION AND LIBRARIES
Chapter 173
• Effective - 28 Nov 2007, 2 histories, see footnote
173.196. Business firm may make donation to higher education scholarship donation fund, tax credit — amount of credit, limitations, carry-over, transfer — use of fund — tax credits prohibited, when. —
1. Any business firm, as defined in section 32.105, may make a donation to the "Missouri Higher Education Scholarship Donation Fund", which is hereby created in the state treasury. A donating business firm shall receive a tax credit as provided in this section equal to fifty percent of the amount of the donation, except that tax credits shall be awarded each fiscal year in the order donations are received and the amount of tax credits authorized shall total no more than two hundred and fifty thousand dollars for each fiscal year.
2. The department of revenue shall grant tax credits approved under this section which shall be applied in the order specified in subsection 1 of section 32.115 until used. The tax credits provided under this section shall be refundable, and any tax credit not used in the fiscal year in which approved may be carried over the next five succeeding calendar or fiscal years until the full credit has been claimed. Notwithstanding any other law to the contrary, any tax credits granted under this section may be assigned, transferred, sold, or otherwise conveyed without consent or approval. Such taxpayer, hereinafter the assignor for purposes of this section, may sell, assign, exchange, or otherwise transfer earned tax credits:
(1) For no less than seventy-five percent of the par value of such credits; and
(2) In an amount not to exceed one hundred percent of annual earned credits.
3. No tax credit authorized under this section may be applied against any tax applied in a tax year beginning prior to January 1, 1995.
4. All revenues credited to the fund shall be used, subject to appropriations, to provide scholarships authorized under sections 173.197 to 173.199
*
, and for no other purpose.
5. For all tax years beginning on or after January 1, 2005, no tax credits shall be authorized, awarded, or issued to any person or entity claiming any tax credit under this section.
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(L. 1994 H.B. 1248 & 1048 § 17, A.L. 2004 S.B. 1099, A.L. 2007 1st Ex. Sess. H.B. 1)
Effective 11-28-07
*Section 173.197 was repealed by S.B.975 & 1024 Revision, 2018.
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.242 - Recipient of scholarship may postpone college for two semesters to participate in the National Guard without losing eligibility, requirements.

Title XI EDUCATION AND LIBRARIES
Chapter 173
Effective - 28 Aug 1995
173.242. Recipient of scholarship may postpone college for two semesters to participate in the National Guard without losing eligibility, requirements. —
1. Any recipient of a scholarship awarded under this chapter may postpone attendance at an approved public or private institution and enter Missouri National Guard service or participate in Missouri National Guard programs for a period not to exceed two semesters without losing eligibility for the scholarship; provided that the recipient returns to attendance in the semester immediately after such service or participation ends and no later than the semester immediately following the end of the eligibility period established in this subsection.
2. To retain scholarship eligibility, the recipient shall:
(1) Notify the institution currently attended, or the institution to be attended in the case of a new enrollment, prior to the beginning of the first semester which the student will not attend the institution and for which the student intends to retain scholarship eligibility under this section;
(2) Provide to the institution, prior to the beginning of the semester the recipient intends to return to attendance at the institution, a certificate of satisfactory service or written confirmation of participation from his or her commanding officer; and
(3) Comply with all other applicable scholarship eligibility requirements established under law, rule or policy not in conflict with postponement of attendance pursuant to subsection 1 of this section.
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(L. 1995 S.B. 207 merged with S.B. 385)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.252 - Interest, guaranty student loan fund, use of.

Title XI EDUCATION AND LIBRARIES
Chapter 173
Effective - 28 Aug 1988
173.252. Interest, guaranty student loan fund, use of. —
The interest earned prior to fiscal year 1985 on the state guaranty student loan fund shall be used for the purpose of providing moneys for student financial aids as determined by the general assembly in the annual appropriation.
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(L. 1986 H.B. 1356 § 2 subsec. 2, A.L. 1988 H.B. 1456)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.256 - Kids' chance scholarship — fund created, how terminated, lapse into general revenue prohibited.

Title XI EDUCATION AND LIBRARIES
Chapter 173
• Effective - 28 Aug 2008
173.256. Kids' chance scholarship — fund created, how terminated, lapse into general revenue prohibited. —
1. The department of higher education and workforce development shall collect and distribute funds for the kids' chance scholarship pursuant to section 173.254, however, the department shall not distribute the corpus provided by section 173.258. The department may distribute any accrued interest in the fund as scholarships after the second Monday in October of 2008.
2. There is hereby created in the state treasury the "Kids' Chance Scholarship Fund", which shall consist of all moneys deposited in the fund pursuant to section 173.258 and all moneys which may be appropriated to it by the general assembly, from federal or other sources, including private donations. Upon termination of the fund, all moneys in the fund shall be transferred for the use of the division of workers' compensation for deposit in the fund created by virtue of section 287.690.
3. The state treasurer shall administer the fund and credit all interest to the fund and the moneys in the fund shall be used solely upon appropriation by the department for the expenses of carrying out its duties pursuant to this section.
4. Notwithstanding the provisions of section 33.080 to the contrary, moneys in the fund shall not revert to the credit of the general revenue fund at the end of the biennium.
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(L. 1998 H.B. 1237, et al. § 1, A.L. 2008 H.B. 2191)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.258 - Director to deposit funds in kids' chance scholarship fund, when.

Title XI EDUCATION AND LIBRARIES
Chapter 173
• Effective - 28 Aug 2008
173.258. Director to deposit funds in kids' chance scholarship fund, when. —
The director of the division of workers' compensation shall deposit fifty thousand dollars from the premium tax collected pursuant to section 287.690 on the second Monday in October of each year beginning in 1999 until 2018 into the kids' chance scholarship fund.
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(L. 1998 H.B. 1237, et al. § 2, A.L. 2008 H.B. 2191)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.264 - International economic development exchange program established — eligible students.

Title XI EDUCATION AND LIBRARIES
Chapter 173
Effective - 23 Dec 1997, see footnote
173.264. International economic development exchange program established — eligible students. —
There is hereby established as a pilot project the "International Economic Development Exchange Program". The department of economic development, with the advice of the advisory committee established in section 173.265, shall administer the program, except that the department shall administer the program without additional staff or salary for such program. The program shall be established to encourage international exchanges at industrial and commercial business enterprises for students enrolled in institutions of higher education. Full-time students who attend institutions of higher education in this state shall be eligible for financial assistance to attend the student internship exchange portion of the program in eligible countries other than the United States. Priority shall be given to business internship exchange programs of public and private institutions of higher education in this state, where such programs have been in existence for at least ten successive years prior to December 23, 1997. The program shall include an inventory of the number of students involved in such programs, which shall be maintained by the advisory committee. The program shall also include the development of methods for fostering international trade through exchange programs and through business and entrepreneurial training programs. The program may include the provision of scholarships and other financial assistance in cooperation with the federal government, public and private institutions of higher education, and businesses, to enable students and business people from eligible countries to study and attend training programs in the United States.
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(L. 1997 2d Ex. Sess. S.B. 1 § 2 subsec. 1)
Effective 12-23-97
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.265 - Advisory committee established — members, appointment, qualifications, terms — program funding.

Title XI EDUCATION AND LIBRARIES
Chapter 173
• Effective - 23 Dec 1997, see footnote
173.265. Advisory committee established — members, appointment, qualifications, terms — program funding. —
1. There is hereby created an "International Economic Development Exchange Program Advisory Committee", which shall consist of five members, to be appointed by the director of the department of economic development. The committee shall include two persons associated with institutions of higher education in this state and one resident business person who deals with international business. Of the five members, all shall be residents of the state, at least one member shall be a resident of one of the two largest metropolitan areas of this state, and at least one member shall not be a resident of one of the two largest metropolitan areas of this state. The members shall serve three-year terms. The committee shall meet only in Jefferson City. The committee shall review the administration of the international economic development exchange program by the department of economic development. The director of the department of economic development shall make an annual report of the program's activities to the governor, the speaker of the house of representatives and the president pro tem of the senate. Members of the committee shall serve without compensation but may be reimbursed for ordinary and necessary expenses incurred in the performance of their official duties.
2. The program may receive grants, loans and other funding from the federal government and from private sources. In addition, the general assembly may appropriate up to one hundred thousand dollars in each fiscal year for the program; however, such appropriation shall not exceed an amount equal to the amounts contributed to the program from nongovernmental sources.
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(L. 1997 2d Ex. Sess. S.B. 1 § 2 subsecs. 2, 3)
Effective 12-23-97
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.310 - Bylaws to be filed with secretary of state.

Title XI EDUCATION AND LIBRARIES
Chapter 173
Effective - 28 Aug 1967
173.310. Bylaws to be filed with secretary of state. —
Pursuant to Article III(I) of the compact, the commission shall file a copy of its bylaws and any amendment thereto with the secretary of state.
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(L. 1967 p. 273 § 2)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.320 - Selection of legislative members.

Title XI EDUCATION AND LIBRARIES
Chapter 173
Effective - 28 Aug 1967
173.320. Selection of legislative members. —
The member of the house of representatives who serves on the commission shall be selected by the speaker of the house, and the member of the senate shall be selected by the president pro tem. Each legislative member shall serve at the pleasure of the appointing power.
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(L. 1967 p. 273 § 3)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.330 - Commission members' expenses paid.

Title XI EDUCATION AND LIBRARIES
Chapter 173
Effective - 28 Aug 1967
173.330. Commission members' expenses paid. —
The Missouri members of the commission shall receive no salary, but shall be reimbursed for actual and necessary expenses.
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(L. 1967 p. 273 § 4)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.350 - Citation of law.

Title XI EDUCATION AND LIBRARIES
Chapter 173
• Effective - 28 Aug 1981
173.350. Citation of law. —
This subchapter may be referred to and cited as the "Missouri Higher Education Loan Authority Act".
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(L. 1981 H.B. 326)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.355 - Definitions.

Title XI EDUCATION AND LIBRARIES
Chapter 173
• Effective - 28 Aug 2007, 2 histories
173.355. Definitions. —
As used in sections 173.350 to 173.450
*
, the following terms mean:
(1)
"Asset of the authority"
, any asset or investment of any kind owned by the authority, including, but not limited to, any student loan, any income or revenues derived from any asset or investment owned by the authority, any funds, income, fees, revenues, proceeds of all bonds or other forms of indebtedness, and proceeds of the sale or liquidation of any such asset or investment;
(2)
"Authority"
, the Missouri higher education loan authority;
(3)
"Board"
, the Missouri coordinating board for higher education;
(4)
"Bond resolution"
, any indenture, resolution or other financing document pursuant to which revenue bonds, notes or other forms of indebtedness of the authority are issued or secured;
(5)
"Commissioner"
, the Missouri commissioner of higher education;
(6)
"Department"
, the Missouri department of higher education and workforce development;
(7)
"Public colleges and universities"
, any public community college, public college, or public university located in the state of Missouri;
(8)
"Secondary education loans"
, loans or notes originated by banks, other financial institutions, secondary education institutions or the authority, the proceeds of which are to be used to pay tuition for students enrolling for either junior or senior year at a secondary school which is accredited in accordance with applicable state law. Such loans shall be available only to the parents or guardians of those students who undertake courses of instruction for which postsecondary school course credit may be awarded. Loan proceeds will not be available for any secondary school instruction which is sectarian in nature.
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(L. 1981 H.B. 326, A.L. 1994 S.B. 583, A.L. 2003 S.B. 371, A.L. 2007 S.B. 389)
*Section 173.450 was repealed by H.B. 1456, 1988.
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.365 - Quorum — affirmative vote requirement — meetings open to public — notice — expenses.

Title XI EDUCATION AND LIBRARIES
Chapter 173
• Effective - 28 Aug 1994
173.365. Quorum — affirmative vote requirement — meetings open to public — notice — expenses. —
Four members of the authority shall constitute a quorum for the purpose of conducting business and exercising the powers of the authority. Action may be taken by the authority upon the affirmative vote of at least four of its members. Members may participate in a meeting by means of conference telephone or similar communications equipment whereby all persons participating in or attending the meeting can communicate with each other, and participation in a meeting in this manner shall constitute presence in person at the meeting for all purposes. Each meeting of the authority for any purpose whatsoever shall be open to the public. Notice of meetings shall be given as provided in the bylaws of the authority. The proceedings and actions of the authority shall comply with all statutory requirements respecting the conduct of public business by a public agency. Members of the authority shall receive no compensation for services but shall be entitled to reimbursement for necessary expenses, including traveling and lodging expenses, incurred in the discharge of their duties. Any payment for expenses shall be paid from funds of the authority.
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(L. 1981 H.B. 326, A.L. 1994 S.B. 583)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.370 - Organizational meeting — officers — secretary, appointment, duties, compensation, executive director, appointment, compensation.

Title XI EDUCATION AND LIBRARIES
Chapter 173
• Effective - 28 Aug 1981
173.370. Organizational meeting — officers — secretary, appointment, duties, compensation, executive director, appointment, compensation. —
1. The chairman of the coordinating board shall call and convene the initial organizational meeting of the authority and shall serve as its chairman pro tem. At the initial meeting and annually thereafter, the authority shall elect one of its members as chairman and one as vice chairman. In addition, at the initial meeting and annually thereafter, the authority shall appoint a secretary and a treasurer either of whom may be a member of the authority and, if not a member of the authority, shall receive such compensation as shall be fixed from time to time by action of the authority. The authority may appoint an executive director who shall not be a member of the authority and who shall serve at its pleasure. If an executive director is appointed, he shall receive such compensation as shall be fixed from time to time by action of the authority. The authority may designate the secretary to act in lieu of the executive director. The secretary shall keep a record of the proceedings of the authority and shall be the custodian of all books, documents, and papers filed with the authority, the minute books or journal thereof, and its official seal. The secretary may cause copies to be made of all minutes and other records and documents of the authority and may give certificates under the official seal of the authority to the effect that the copies are true and correct copies, and all persons dealing with the authority may rely on such certificates. The authority, by resolution duly adopted, shall fix the powers and duties of its executive director as it may from time to time deem proper and necessary.
2. The executive director, with approval of the authority, may hire such additional employees as may be needed to carry out the functions and purposes of the authority. These employees shall receive such compensation as shall be fixed from time to time by action of the authority.
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(L. 1981 H.B. 326)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.375 - Bond requirements for members of authority — filed where.

Title XI EDUCATION AND LIBRARIES
Chapter 173
• Effective - 28 Aug 1981
173.375. Bond requirements for members of authority — filed where. —
Each member of the authority shall execute a surety bond in the penal sum of fifty thousand dollars or, in lieu thereof, the chairman of the authority shall execute a blanket bond covering each member and the employees or other officers of the authority, each surety bond to be conditioned upon the faithful performance of the duties of the office or offices covered, to be executed by a surety company authorized to transact business in this state as surety, and to be approved by the attorney general and filed in the office of the secretary of state. The cost of each such bond shall be paid by the authority.
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(L. 1981 H.B. 326)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.380 - Conflict of interest, procedure to avoid.

Title XI EDUCATION AND LIBRARIES
Chapter 173
• Effective - 28 Aug 1981
173.380. Conflict of interest, procedure to avoid. —
Any other provision of the law to the contrary notwithstanding, it shall not be or constitute a conflict of interest for a trustee, director, officer, or employee of any educational institution, financial institution, investment banking firm, brokerage firm, commercial bank or trust company, or any other firm, person, or corporation to serve as a member of the authority, provided such trustee, director, officer, or employee shall abstain from deliberation, action, and vote by the authority in each instance where the business affiliation of
*
any such trustee, director, officer, or employee is involved.
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(L. 1981 H.B. 326)
*Word "or" appears in original rolls.
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.386 - Assets may not be used for payment of debt.

Title XI EDUCATION AND LIBRARIES
Chapter 173
• Effective - 28 Aug 2007
173.386. Assets may not be used for payment of debt. —
Notwithstanding any other provision of law, the authority shall not have the power or authority to cause any asset of the authority to be used for the payment of debt incurred by the state, and the authority shall not have the power or authority to distribute any asset of the authority to any fund of the state of Missouri for the purpose of payment of debt incurred by the state.
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(L. 2007 S.B. 389)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.387 - Authority may be originator of guaranteed student loan, conditions.

Title XI EDUCATION AND LIBRARIES
Chapter 173
• Effective - 02 May 2008, 2 histories, see footnote
173.387. Authority may be originator of guaranteed student loan, conditions. —
The authority is hereby authorized to be the originator of any federally guaranteed student loan. Provided, however, with respect to borrowers attending higher education institutions in the state of Missouri, the authority's origination of Stafford loans under the Federal Family Education Loan Program shall not exceed ten percent of the previous year's total Missouri Federal Family Education Loan Program volume as determined by the Student Marketmeasure report, data from the United States Department of Education, or other reputable sources.
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(L. 1988 H.B. 1456, A.L. 1994 S.B. 583, A.L. 2003 H.B. 221 merged with S.B. 346, A.L. 2008 S.B. 967)
Effective 5-02-08
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.392 - Lewis and Clark discovery fund created, use of moneys — annual appropriations, purposes.

Title XI EDUCATION AND LIBRARIES
Chapter 173
• Effective - 28 Aug 2007
173.392. Lewis and Clark discovery fund created, use of moneys — annual appropriations, purposes. —
1. There is hereby created in the state treasury a fund to be known as the "Lewis and Clark Discovery Fund". The state treasurer shall deposit to the credit of the fund all moneys which may be distributed to it by the authority, appropriated to it by the general assembly, and any gifts, contributions, grants, or bequests received from federal, private, or other sources for deposit into the fund. The office of administration shall administer the fund. The moneys in the fund shall only be used for any purpose enumerated in subsection 2 of this section. The moneys in the fund may be appropriated by the general assembly, but only for any purpose enumerated in subsection 2 of this section. None of the moneys in the fund shall be considered state funds unless and to the extent such moneys are appropriated by the general assembly.
2. The general assembly may annually appropriate moneys from the Lewis and Clark discovery fund only for the following purposes:
(1) To support funding of capital projects at public colleges and universities, provided that moneys shall not be appropriated to any public college or university that knowingly employs, as of September 1, 2007, any person, as a professor or instructor, required to be registered under sections 589.400 to 589.425; and
(2) To support funding for the Missouri technology corporation's ability to work with colleges and universities in identifying opportunities for commercializing technologies, transferring technologies, and to develop, recruit, and retain entities engaged in innovative technologies.
3. Moneys in the fund shall be invested by the state treasurer in the manner prescribed by law for investment of general revenue funds and any interest earned on invested moneys shall accrue to the benefit of the Lewis and Clark discovery fund and shall reduce payments by the authority pursuant to subsection 2 of section 173.385. Notwithstanding the provisions of section 33.080 to the contrary, moneys in the Missouri Lewis and Clark discovery fund shall not revert to the credit of the general revenue fund at the end of the biennium.
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(L. 2007 S.B. 389)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 173 - Department of Higher Education and Workforce Development › Section 173.393 - Misuse of moneys by recipient becomes liability, repayment of moneys.

Title XI EDUCATION AND LIBRARIES
Chapter 173
• Effective - 28 Aug 2007
173.393. Misuse of moneys by recipient becomes liability, repayment of moneys. —
Any money appropriated by the general assembly from the Lewis and Clark discovery fund and used by the recipient in violation of section 173.386 or section 173.392 shall thereby be a liability of the recipient to the credit of the Lewis and Clark discovery fund and the recipient shall remit all such money to the Lewis and Clark discovery fund. In the event the recipient of such appropriated funds is liable to remit the appropriated funds back to the Lewis and Clark discovery fund, pursuant to this section, such recipient shall also be liable to remit interest on the amount due to the fund. Beginning on the date of receipt of such appropriated funds by the recipient, such outstanding funds shall accrue interest at the rate of one percent per month until the principal and all accrued interest is remitted in full to the fund. The recipient shall remit all principal of and interest on such misused funds to the state treasurer for deposit into the Lewis and Clark discovery fund.
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(L. 2007 S.B. 389)