reglab/statecodes huggingface dataset:
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-D - New Hampshire Health and Education Facilities Authority › Section 195-D:8 - Notes of the Corporation.

195-D:8 Notes of the Corporation. –
The corporation has the power and is hereby authorized from time to time to issue its negotiable notes for any corporate purpose, including the payment of all or any part of the cost of any project or the refinancing of existing indebtedness, and renew from time to time any notes by the issuance of new notes, whether the notes to be renewed have or have not matured. The corporation 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 corporation or any issue thereof may contain any provisions which the corporation is authorized to include in any resolution or resolutions authorizing revenue bonds of the corporation or any issue thereof, and the corporation may include in any notes any terms, covenants or conditions which it is authorized to include in any bonds. All such notes shall be payable solely from the revenues of the corporation, subject only to any contractual rights of the holders of any of its notes or other obligations then outstanding.
Source.
1969, 318:1. 1971, 198:7. 1979, 384:6, eff. Aug. 22, 1979.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-D - New Hampshire Health and Education Facilities Authority › Section 195-D:10 - Trust Agreement.

195-D:10 Trust Agreement. –
In the discretion of the corporation, any revenue bonds issued under the provisions of this chapter may be secured by a trust agreement by and between the corporation and a corporate trustee or trustees, which may be any trust company or bank having the powers of a trust company within or without the state. Such trust agreement or the resolution providing for the issuance of such revenue bonds may pledge or assign the revenues to be received or proceeds of any contract or contracts pledged and may convey or mortgage the project or any portion thereof. Such trust agreement or resolution providing for the issuance of such revenue bonds may contain such provisions for protecting and enforcing the rights and remedies of the bondholders as are reasonable and proper and not in violation of law, including particularly such provisions as have been specifically authorized in this chapter to be included in any resolution or resolutions of the corporation authorizing revenue bonds thereof. It is lawful for any bank or trust company incorporated under the laws of the state which may act as depositary of the proceeds of bonds or of revenues or other moneys to furnish such indemnifying bonds or to pledge such securities as may be required by the corporation. Any such trust agreement may set forth the rights and remedies of the bondholders and of the trustee or trustees, and may restrict the individual right of action by bondholders. In addition to the foregoing, any such trust agreement or resolution may contain such other provisions as the corporation judges reasonable and proper for the security of the bondholders. 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 operation of a project.
Source.
1969, 318:1, eff. Aug. 29, 1969.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-D - New Hampshire Health and Education Facilities Authority › Section 195-D:11 - Credit of State Not Pledged.

195-D:11 Credit of State Not Pledged. –
Revenue bonds issued under the provisions of this chapter do not and shall not be construed to constitute a debt or liability of the state or of any municipality or political subdivision thereof or a pledge of the faith and credit of the state or of any such municipality or political subdivision. These revenue bonds are payable solely from the revenue funds provided by this chapter for their payment. All such revenue bonds shall contain on the face thereof a statement to the effect that neither the state nor the corporation are obligated to pay the same or the interest thereon except from revenues of the project or projects for which they are issued and that neither the faith and credit nor the taxing power of the state or of any municipality or political subdivision thereof is pledged to the payment of the principal of or the interest on such bonds. The issuance of revenue bonds under the provisions of this chapter shall not directly or indirectly or contingently obligate the state or any municipality or political subdivision thereof to levy or to pledge any form of taxation whatever therefor or to make any appropriation for their payment.
Source.
1969, 318:1, eff. Aug. 29, 1969.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-D - New Hampshire Health and Education Facilities Authority › Section 195-D:13 - Trust Funds.

195-D:13 Trust Funds. –
All moneys received pursuant to the authority of this chapter whether as proceeds from the sale of bonds or as revenues, are 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 moneys are deposited shall act as trustee of such moneys and shall hold and apply the same for the purposes of this chapter, subject to such regulations as this chapter and the resolution authorizing the bonds of any issue or the trust agreement securing such bonds provide.
Source.
1969, 318:1, eff. Aug. 29, 1969.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-D - New Hampshire Health and Education Facilities Authority › Section 195-D:14 - Remedies.

195-D:14 Remedies. –
Any holder of revenue bonds issued under the provisions of this chapter or of 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 such resolution authorizing the issuance of, or any such trust agreement securing, such bonds, 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 state or granted under this chapter 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 corporation or by any officer, employee, or agent thereof, including the fixing, charging, and collecting of the rates, rents, fees and charges authorized in this chapter and required by the provisions of such resolution or trust agreement to be fixed, established, and collected.
Source.
1969, 318:1, eff. Aug. 29, 1969.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-D - New Hampshire Health and Education Facilities Authority › Section 195-D:17 - Bonds Eligible for Investment.

195-D:17 Bonds Eligible for Investment. –
Bonds issued by the corporation under the provisions of this chapter are securities in which all public officers and public bodies of the state and its political subdivisions, all insurance companies, trust companies, banking associations, credit unions, building and loan associations, investment companies, executors, administrators, trustees and other fiduciaries, pension, profit-sharing, and retirement funds may properly invest funds, including capital in their control or belonging to them. Such bonds are securities which may properly be deposited with and received by any state or municipal officer or any agency or political subdivision of the state for any purpose for which the deposit of bonds or other obligations of the state is now or may be authorized by law after August 29, 1969.
Source.
1969, 318:1, eff. Aug. 29, 1969.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-D - New Hampshire Health and Education Facilities Authority › Section 195-D:18 - Biennial Report and Audit.

195-D:18 Biennial Report and Audit. –
I. Within 4 months after the close of the second fiscal year of the corporation and biennially thereafter, it shall make a report to the governor and council of its activities for both preceding fiscal years and such report shall set forth a complete operating and financial statement covering the corporation's operations during the 2 preceding fiscal years including a complete and detached report setting forth:
(a) Its operations and accomplishments;
(b) Its receipts and expenditures during each preceding fiscal year in accordance with the categories or classifications established by the corporation for its operating and capital outlay purposes;
(c) Its assets and liabilities at the end of each preceding fiscal year; and
(d) A schedule of its bonds and notes outstanding at the end of each preceding fiscal year, together with a statement of the amounts redeemed and incurred during each preceding fiscal year.
II. The corporation shall cause an audit of its books and accounts to be made at least once each second fiscal year by certified public accountants and the cost thereof shall be paid by the corporation from funds available to it pursuant to this chapter.
Source.
1969, 318:1. 1971, 198:11. 1973, 140:28, eff. Jan. 1, 1974.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-D - New Hampshire Health and Education Facilities Authority › Section 195-D:19 - Source of Payment of Expenses.

195-D:19 Source of Payment of Expenses. –
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 obligation shall be incurred by the corporation under this chapter, beyond the extent to which moneys shall have been provided under the provisions of this chapter.
Source.
1969, 318:1, eff. Aug. 29, 1969.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-D - New Hampshire Health and Education Facilities Authority › Section 195-D:20 - State Not Liable.

195-D:20 State Not Liable. –
The state is not liable for the payment of the principal of or interest on any bonds of the corporation, or for the performance of any pledge, mortgage, obligation or agreement of any kind whatsoever which may be undertaken by the corporation, and none of the bonds of the corporation nor any of its agreements or obligations shall be construed to constitute an indebtedness of the state within the meaning of any constitutional or statutory provision whatsoever, nor shall the issuance of bonds under the provisions of this chapter directly or indirectly or contingently obligate the state or any municipality or political subdivision thereof to levy or to pledge any form of taxation whatever therefor or to make any appropriation for their payment.
Source.
1969, 318:1, eff. Aug. 29, 1969.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-D - New Hampshire Health and Education Facilities Authority › Section 195-D:22 - Agreement of the State.

195-D:22 Agreement of the State. –
The state does hereby pledge to and agree with the holders of any bonds, notes and other obligations issued under this chapter, and with those parties who may enter into contracts with the corporation pursuant to the provisions of this chapter, that the state will not limit, alter, restrict, or impair the rights hereby vested in the corporation and the participating institutions to acquire, construct, reconstruct, maintain and operate any project as defined in this chapter or to establish, revise, charge and collect rates, rents, fees and other charges as may be convenient or necessary to produce sufficient revenues to meet the expenses of maintenance and operation thereof and to fulfill the terms of any agreements made with the holders of bonds, notes or other obligations authorized and issued by this chapter, and with the parties who may enter into contracts with the corporation pursuant to the provisions of this chapter, or in any way impair the rights or remedies of the holders of such bonds, notes or other obligations or such parties until the bonds, notes and such other obligations, together with interest thereon, with interest on any unpaid installment of interest and all costs and expenses in connection with any action or proceeding by or on behalf of the bondholders, are fully met and discharged and such contracts are fully performed on the part of the corporation. However, nothing in this chapter precludes such limitation or alteration if and when adequate provision is made by law for the protection of the holders of such bonds, notes or other obligations of the corporation or those entering into such contracts with the corporation. The corporation is authorized to include this pledge and undertaking for the state in such bonds, notes or other obligations or contracts.
Source.
1969, 318:1. 1971, 198:13. 1991, 298:10, eff. Aug. 19, 1991.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-D - New Hampshire Health and Education Facilities Authority › Section 195-D:23 - Act Cumulative; No Notice Required.

195-D:23 Act Cumulative;  No Notice Required. –
Neither this chapter nor anything herein contained is or shall be construed as a restriction or limitation upon any powers which the New Hampshire health and education facilities authority might otherwise have under any laws of this state, and this chapter is cumulative of any such powers. This chapter does and shall be construed to provide a complete, additional, and alternative method for the doing of the things authorized thereby and shall be regarded as supplemental and additional to powers conferred by other laws. However, the issuance of revenue bonds, notes and other obligations and revenue refunding bonds under the provisions of this chapter need not comply with the requirements of any other state law applicable to the issuance of bonds, notes and other obligations and contracts for the construction and acquisition of any project undertaken pursuant to this chapter need not comply with the provisions of any other state law applicable to contracts for the construction and acquisition of state owned property. No proceedings, notice or approval shall be required for the issuance of any bonds, notes and other obligations or any instrument as security therefor, except as is provided in this chapter.
Source.
1969, 318:1. 1970, 16:24. 1971, 198:14. 1999, 253:14, eff. July 9, 1999.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-D - New Hampshire Health and Education Facilities Authority › Section 195-D:24 - Act Liberally Construed.

195-D:24 Act Liberally Construed. –
This chapter, being necessary for the welfare of the state and its inhabitants, shall be liberally construed so as to effect its purposes.
Source.
1969, 318:1, eff. Aug. 29, 1969.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-E - Loan Corporations › Section 195-E:1 - Declaration of Policy.

195-E:1 Declaration of Policy. –
It is declared to be the policy of this state that for the benefit of the people of the state, the increase of their commerce, welfare, and prosperity and the improvement of their health and living conditions, it is essential that students attending higher educational institutions be given the fullest opportunity to learn and develop their intellectual and mental capacities. It is recognized that the financial costs to obtain an education beyond the high school level are often burdensome or prohibitive, and it is essential that qualified students or their parents be provided with low cost financial assistance in order that the students may attend such schools and to reduce the total amount of loan payments following graduation. In order to achieve this policy, it is essential that state residents be provided with an appropriate source of financing their postsecondary educations and that educational institutions wherever situated be provided with appropriate additional means to assist qualified students or their parents financially so that the students might achieve the required levels of learning and development of their intellectual and mental capacities. In order to assure the continued viability of existing loan programs whereby educational loans are made available to qualified students or their parents, it is necessary and desirable to provide an efficient, stable secondary market to which such loans may be sold, transferred, or pledged in exchange for funds with which the original lender will be enabled to continue or increase participation in such loan programs. Therefore, the general court has conferred certain powers on educational institutions, on loan corporations, on the New Hampshire higher education assistance foundation, and on the New Hampshire health and education facilities authority to assure the successful origination, distribution and collection of loans so as to accomplish the purposes of this chapter, all to the public benefit and good. It is further declared that the exercise by the educational institutions, the loan corporations, the New Hampshire higher education assistance foundation and the New Hampshire health and education facilities authority of the powers conferred under this chapter will constitute the performance of an essential governmental function.
Source.
1981, 229:1. 1983, 112:1. 1986, 23:1. 1994, 86:3. 1999, 253:15. 2005, 120:1, eff. Aug. 14, 2005.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-E - Loan Corporations › Section 195-E:2 - Definitions.

195-E:2 Definitions. –
In this chapter:
I. "Authority" means the New Hampshire health and education facilities authority, established under RSA 195-D:4.
II. "Loan corporation" means any corporation established under RSA 195-E:3. A loan corporation may make student loans to students of more than one qualified educational institution, or to the parents of those students.
III. "Educational institution" means any institution for postsecondary or higher education as defined in RSA 195-D:3, V, and in addition means any institution for postsecondary training and education or which awards an undergraduate or advanced degree, whether located within or without the state of New Hampshire.
IV. "Qualified educational institution" means any educational institution whose principal campus or principal facilities are located within the state of New Hampshire.
V. "Eligible student" means any student attending a qualified educational institution and any New Hampshire resident attending an educational institution.
VI. "Foundation" means the New Hampshire higher education assistance foundation or any voluntary nonprofit corporation organized under RSA 292 by 5 members of the board of trustees of the New Hampshire higher education assistance foundation who have been duly authorized so to do by a 2/3 vote of the said board of trustees.
VII. "Parent" means mother, father or adoptive parent and shall include any person with the duty and authority to make important decisions in matters having a permanent effect on the life and development of the student and to be concerned about the general welfare of the student.
Source.
1981, 229:1. 1983, 112:2. 1986, 23:2, 3. 1999, 253:16, eff. July 9, 1999.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-E - Loan Corporations › Section 195-E:3 - Loan Corporation Authorized.

195-E:3 Loan Corporation Authorized. –
I. Any qualified educational institution may form a voluntary nonprofit corporation in accordance with this chapter for the purposes specified in this chapter. A qualified educational institution may form a loan corporation either:
(a) By organizing a new voluntary nonprofit corporation as provided in this chapter; or
(b) By amending the articles of agreement and bylaws of an existing voluntary nonprofit corporation organized under RSA 292 to conform the articles and bylaws to the requirements of RSA 195-E:5-9; or
(c) By adopting the articles of agreement and bylaws of an existing corporation validly organized by any other entity pursuant to subparagraphs (a) or (b); or
(d) By merging any voluntary nonprofit corporation organized under RSA 292 with any existing loan corporation validly organized by any other entity pursuant to subparagraphs (a) or (b).
II. The provisions of RSA 195-E:3-9 shall not apply to the foundation.
Source.
1981, 229:1. 1983, 112:3, eff. May 25, 1983.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-E - Loan Corporations › Section 195-E:4 - Incorporators.

195-E:4 Incorporators. –
I. A qualified educational institution may, by a 2/3 vote of its board of trustees or other governing body, agree to form a loan corporation for the purpose of providing low cost financial assistance to qualified students enrolled at the institution or to their parents. The articles of agreement, articles of amendment, articles of merger, or agreement adopting the articles of agreement and bylaws of any existing loan corporation shall be signed by 5 members of the board of trustees or other governing body who are so authorized in writing by the board of trustees or other body. If a loan corporation is formed pursuant to RSA 195-E:3, I(a) or (b), the 5 members of the board of trustees or other governing body shall act as the incorporators of the loan corporation.
II. The incorporators shall be deemed to be acting in their capacities as members of and on behalf of the board of trustees or other governing body.
Source.
1981, 229:1. 1983, 112:4. 1986, 23:4, eff. June 17, 1986.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-E - Loan Corporations › Section 195-E:5 - Articles of Agreement.

195-E:5 Articles of Agreement. –
The articles of agreement of a loan corporation shall contain the following:
I. The name of the loan corporation, which shall clearly identify the qualified educational institution or institutions involved and shall contain the words "Loan Corporation";
II. The object for which the loan corporation is established;
III. The provisions for disposition of the corporate assets in the event of dissolution of the loan corporation;
IV. The address at which the business of the loan corporation is to be carried on;
V. The amount of capital stock, if any, or the number of shares, if any;
VI. The signature and post office address of each of the incorporators;
VII. A true copy of the vote of the educational institution agreeing to form a loan corporation; and
VIII. A true copy of the authorization for each incorporator to sign the articles of incorporation.
Source.
1981, 229:1. 1983, 112:5, eff. May 25, 1983.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-E - Loan Corporations › Section 195-E:7 - Recording.

195-E:7 Recording. –
The secretary of state shall record the articles of agreement in his office. When so recorded the signers shall be a loan corporation. The loan corporation and its officers and members shall have all the rights and powers and shall be subject to all the duties and liabilities as those of voluntary corporations established under RSA 292; provided that these rights, powers, duties or liabilities may be limited or expanded by this chapter.
Source.
1981, 229:1, eff. Aug. 10, 1981.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-E - Loan Corporations › Section 195-E:8 - Fees for Recording.

195-E:8 Fees for Recording. –
The fee for recording the articles of agreement and any record of amendment in the office of the secretary of state shall be the same as the fees which are required for voluntary nonprofit corporations under RSA 292:5.
Source.
1981, 229:1, eff. Aug. 10, 1981.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-E - Loan Corporations › Section 195-E:10 - Issuance of Bonds.

195-E:10 Issuance of Bonds. –
I. The authority is empowered to issue bonds and other obligations for the purposes specified in this chapter in accordance with this section.
II. [Repealed.]
III. No bonds or other obligations shall be issued except after the governor and council, or their designee, after hearing, shall have found that:
(a) The origination or acquisition of low cost loans by a loan corporation, a qualified educational institution or the foundation to qualified students or their parents will assist the students in attending their educational institutions and will lower the cost to the students of financing their educations;
(b) Adequate provision has been or will be made for the payment of the principal of, or interest on, any obligations issued by the authority to finance such loan programs.
(c) Adequate provision has been made for the payment of the reasonable expenses of administration of the loan programs as are necessitated by the programs.
(d) The proposed procedures for redistribution of the bond proceeds, collection of student payments, interest charges and any other matters concerning the administration of the loan program are in conformance with law.
IV. The authority, to further its student loan programs, shall have the power to:
(a) Determine the nature of student loan programs for eligible students or their parents for which the authority will issue bonds;
(b) Enter into contracts for any or all student loan program purposes;
(c) Enter into contracts for the administration or servicing of student loans;
(d) Designate the foundation, a particular qualified educational institution or institutions, or loan corporation or corporations, as its agent for accomplishing its purposes;
(e) Make loans with proceeds of the sale of its bonds to the foundation, any qualified educational institution, or any loan corporation in accordance with an agreement between the authority and such other party or parties; provided that the proceeds of any loan made to the foundation shall be used by the foundation to purchase, originate or make loans to any eligible student or to the parents of any eligible student, but the proceeds of any loan made to a qualified educational institution or to a loan corporation shall be used by such qualified educational institution or such loan corporation to purchase, originate or make loans only to eligible students attending qualified educational institutions, or to the parents of these students;
(f) Receive and accept from any public agency or any other source loans, grants, guarantees or insurance with respect to student loans and the student loan programs;
(g) Establish guidelines governing the actions of the foundation, loan corporations, and qualified educational institutions in participating in the authority's student loan program; and
(h) Exercise all powers incidental and necessary for the performance of the powers listed in this paragraph.
Source.
1981, 229:1. 1983, 112:6, 7. 1986, 23:5-7. 1994, 86:4, 6, eff. July 5, 1994.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-E - Loan Corporations › Section 195-E:11 - Rights of the Authority, Foundation, Qualified Educational Institution and Loan Corporations.

195-E:11 Rights of the Authority, Foundation, Qualified Educational Institution and Loan Corporations. –
In issuing bonds for a student loan program, the authority, the foundation, any qualified educational institution and any loan corporations created under this chapter shall have all the power and authority and be subject to all of the rights, liabilities and responsibilities as provided in RSA 195-D, insofar as these provisions do not conflict with this chapter. Nothing in this chapter shall otherwise limit any other bond issuance or other powers of the authority set forth in RSA 195-D.
Source.
1981, 229:1. 1983, 112:8, eff. May 25, 1983.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-E - Loan Corporations › Section 195-E:12 - Credit of State Not Pledged.

195-E:12 Credit of State Not Pledged. –
I. Revenue bonds issued under this chapter do not constitute a debt or liability of the state or of any municipality or political subdivision of the state or a pledge of the faith and credit of the state or of any municipality or political subdivision.
II. These revenue bonds are payable solely from the revenues or other funds derived from student loans, either directly or indirectly provided by this chapter for their payment. All such revenue bonds shall contain on the face of the bond a statement to the effect that neither the state nor the authority is obligated to pay the bond or the interest on the bond except from revenues or other funds derived from student loans, either directly or indirectly provided by this chapter, and that neither the faith and credit nor the taxing power of the state or of any municipality or political subdivision of the state is pledged to the payment of the principal of or the interest on the bonds. The issuance of revenue bonds under this chapter shall not directly or indirectly or contingently obligate the state or any municipality or political subdivision of the state to levy or to pledge any form of taxation whatever for the bonds or to make any appropriation for their payment.
Source.
1981, 229:1, eff. Aug. 10, 1981.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-E - Loan Corporations › Section 195-E:13 - Source of Payment of Expenses.

195-E:13 Source of Payment of Expenses. –
All reasonable expenses incurred in carrying out the provisions of this chapter shall be payable by the foundation, the respective qualified educational institutions, or the respective loan corporations, as the case may be, and no liability or obligation shall be incurred by the authority or any other state agency.
Source.
1981, 229:1. 1983, 112:9, eff. May 25, 1983.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-E - Loan Corporations › Section 195-E:14 - Administration of Loans; No Discrimination.

195-E:14 Administration of Loans;  No Discrimination. –
I. The foundation, a qualified educational institution and a loan corporation shall have the full power and authority and be subject to all rights, responsibilities and liabilities for the administration of a loan program and for the distribution and collection of loans to qualified students or their parents, including the determination of who is eligible to receive loans, the amounts of the loans, repayment schedules and interest rates to be charged; provided that the terms are in accordance with law and do not discriminate against any person on account of race, creed, national origin, sex, gender identity, sexual orientation, or age. In the case of student loans made to eligible students or the parents of such students who attend educational institutions that are not qualified educational institutions, the foundation shall have primary responsibility for the administration of such portion of the loan program and the servicing of such loans; provided, however, that this sentence shall not prohibit the foundation from contracting with another entity for assistance in such administration and servicing as agent for the foundation.
II. The foundation, any qualified educational institution, and any loan corporation are authorized to contract with other service corporations to provide bookkeeping, data processing, loan servicing, loan administration and related fiscal services required for the conduct of their business.
Source.
1981, 229:1. 1983, 112:10. 1986, 23:8, eff. June 17, 1986. 2019, 332:14, eff. Oct. 15, 2019.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-E - Loan Corporations › Section 195-E:15 - Exemption From Taxation.

195-E:15 Exemption From Taxation. –
The exercise of the powers granted by this chapter will be in all respects for the benefit of the people of the state, for the increase of their commerce, welfare and prosperity, and for the improvement of their health and living conditions, and will constitute the performance of an essential governmental function. Neither the authority nor the loan corporations shall be required to pay any taxes or assessment upon the activities of the authority or the loan corporations or their agents in the administration and operation of loan programs pursuant to this chapter.
Source.
1981, 229:1, eff. Aug. 10, 1981.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-E - Loan Corporations › Section 195-E:15-a - Designation of Eligible Lender for Federally Guaranteed Student Loans.

195-E:15-a Designation of Eligible Lender for Federally Guaranteed Student Loans. –
New Hampshire Higher Education Loan Corporation, a New Hampshire voluntary, nonprofit corporation, is hereby designated as "eligible lender" within the meaning of 20 U.S.C. section 1085(d)(1)(D), to enable it to provide a secondary market for federally guaranteed student loans. Furthermore, New Hampshire Higher Education Loan Corporation is requested to acquire student loan notes pursuant to and in accordance with the provisions of 26 U.S.C. section 150(d), as it may be amended from time to time.
Source.
1993, 335:19. 1994, 86:5, eff. July 5, 1994.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-E - Loan Corporations › Section 195-E:16 - Severability.

195-E:16 Severability. –
If any provision of this chapter or the application thereof to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of the chapter which can be given effect without the invalid provisions or application, and to this end the provisions of this chapter are severable.
Source.
1981, 229:1, eff. Aug. 10, 1981.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-F - New Hampshire Municipal Bond Bank Educational Institutions Bond Financing Act › Section 195-F:1 - Declaration of Policy.

195-F:1 Declaration of Policy. –
It is declared to be the policy of the state that for the benefit of the people of the state, the increase of their commerce, welfare, and prosperity and the improvement of their living conditions, it is essential that this and future generations of youths be given the fullest opportunity to learn and develop their intellectual and mental capacities; that it is essential that educational institutions, as defined herein, within the state be provided with appropriate additional means to assist such youths in achieving the required levels of learning and development of their intellectual and mental capacities; that it is essential that the state, through the New Hampshire municipal bond bank acting on its behalf, foster and promote by all reasonable means the provision of adequate markets and facilities for borrowing money by educational institutions, as defined herein, for the financing of their projects and improvements from proceeds of bonds or notes issued by such educational institutions, and to assist such educational institutions in fulfilling their needs for such purposes by creation of indebtedness and to the extent possible to encourage continued investor interest in the bonds or notes of such educational institutions as sound and preferred securities for investment, particularly for those educational institutions not otherwise able readily to borrow for such purposes at reasonable rates of interest, so as to accomplish the purposes of this chapter all to the public benefit and good.
Source.
1982, 5:1, eff. Feb. 19, 1982.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-F - New Hampshire Municipal Bond Bank Educational Institutions Bond Financing Act › Section 195-F:2 - Citation.

195-F:2 Citation. –
This chapter shall be known as, and may be cited as, the New Hampshire municipal bond bank educational institutions bond financing act.
Source.
1982, 5:1, eff. Feb. 19, 1982.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-F - New Hampshire Municipal Bond Bank Educational Institutions Bond Financing Act › Section 195-F:5 - General Power.

195-F:5 General Power. –
In addition to those powers enumerated in RSA 35-A:6, the bank shall have the authority to purchase or hold educational institution bonds at such prices and in such manner as the bank shall deem advisable and to sell educational institution bonds acquired or held by it at such prices without relation to cost and in such manner as the bank shall deem advisable. The bank may require the educational institution to secure the bonds as to payment of both principal and interest by a pledge of, lien upon or bond interest in, its revenues or properties, including a mortgage thereof, as the bank determines necessary to secure the payment of such bonds purchased and the interest thereon as the same become due. The bank may assign any such pledge, lien or bond interest to or for the benefit of the holders of its bonds. The bank may fix and prescribe any form of application or procedure to be required of an educational institution for the purpose of any loan or the purchase of its educational institution bonds, and to fix the terms and conditions of any such loan or purchase and to enter into agreements with educational institutions with respect to any such loan or purchase. The bank shall have the powers prescribed in RSA 35-A:8 with respect to bonds issued under this chapter, provided, however, that such bonds shall not be general obligations of the bank, but shall be special obligations of the bank payable only from the revenues pledged to their payment. Any pledge of revenues or moneys under this chapter shall have the same effect as a pledge under RSA 35-A:10.
Source.
1982, 5:1, eff. Feb. 19, 1982.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-F - New Hampshire Municipal Bond Bank Educational Institutions Bond Financing Act › Section 195-F:7 - Educational Institution General Fund.

195-F:7 Educational Institution General Fund. –
I. The bank shall establish and maintain a fund called the "educational institution general fund" which shall consist of and in which there shall be deposited (1) fees received or charges made by the bank for use of its services or facilities under this chapter; (2) any moneys which the bank shall transfer thereto from the reserve fund pursuant to RSA 195-F:6, II; (3) moneys received by the bank as payments of principal of or interest on educational institution bonds purchased by the bank, or received as proceeds of sale of any educational institution bonds or investment obligations of the bank, or received as proceeds of sale of bonds or notes of the bank, and required under the terms of any resolution of the bank or contract with the holders of its bonds or notes to be deposited therein; (4) any moneys required under the terms of any resolution of the bank or contract with the holders of its bonds or notes to be deposited therein; and (5) any moneys transferred thereto from any other fund or made available for the purpose of the fund or for the operating expenses of the bank. Any such moneys in the educational institution general fund may, subject to any contracts between the bank and its bondholders or noteholders, be transferred to the educational institution reserve fund to pay principal of or interest on bonds or notes of the bank when the same shall become due and payable, whether at maturity or upon redemption including payment of any premium upon redemption prior to maturity, and any moneys in the educational institution general fund may be used for the purchase of educational institution bonds and for all other purposes of the bank including payment of its operating expenses.
II. No amount shall be paid or expended out of the educational institution general fund or from any account therein (which account the bank may establish therein for the purpose of payment of its operating expenses) for operating expenses of the bank relative to the purchase, holding and sale of educational institution bonds in any year in excess of the amount provided for the operating expenses of the educational institution division of the bank by the annual budget then in effect with respect to such year or any amendment thereof in effect at the time of such payment or expenditure for operating expenses relative to this chapter.
III. The bank may at any time use any available moneys in the educational institution general fund for the purchase of its bonds or notes or for the redemption thereof, and any such bonds purchased for retirement shall be thereupon cancelled.
IV. The bank is hereby authorized and empowered to create and establish in the educational institution general fund such accounts, subaccounts or special accounts which in the opinion of the bank are necessary, desirable or convenient for the purposes of the bank under this chapter.
Source.
1982, 5:1, eff. Feb. 19, 1982.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-F - New Hampshire Municipal Bond Bank Educational Institutions Bond Financing Act › Section 195-F:8 - Additional Accounts.

195-F:8 Additional Accounts. –
The bank may establish such additional and further reserves or such other funds or accounts as may be, in its discretion, necessary, desirable or convenient to further the accomplishment of the purposes of the bank delineated under this chapter or to comply with the provisions of any agreement made by or any resolution of the bank.
Source.
1982, 5:1, eff. Feb. 19, 1982.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-F - New Hampshire Municipal Bond Bank Educational Institutions Bond Financing Act › Section 195-F:9 - Agreement by State.

195-F:9 Agreement by State. –
The state does pledge to and agree with the holders of the bonds or notes issued pursuant to authority contained in this chapter that the state will not limit or restrict the rights hereby vested in the bank to purchase, acquire, hold, sell or dispose of educational institution bonds or other investments or to make loans to educational institutions or to establish and collect such fees or other charges as may be convenient or necessary to produce sufficient revenues to meet the expenses of operation of the bank, and to fulfill the term of any agreements made with the holders of its bonds or notes authorized by this chapter or in any way impair the rights or remedies of the holders of such bonds or notes until the bonds and notes, together with interest thereon, and interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceedings by or on behalf of such holders are fully met, paid and discharged.
Source.
1982, 5:1, eff. Feb. 19, 1982.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-F - New Hampshire Municipal Bond Bank Educational Institutions Bond Financing Act › Section 195-F:10 - Legal Investments.

195-F:10 Legal Investments. –
To the extent that other securities of an educational institution are legal investments under state law, the state and all public officers, and agencies thereof, all banks, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, investment companies, and other persons carrying on a banking business, all insurance companies, insurance associations and other persons carrying on an insurance business, and all executors, administrators, guardians, trustees and other fiduciaries, may legally invest any sinking funds, moneys or other funds belonging to them or within their control in any bonds or notes issued pursuant to this chapter, and such bonds or notes shall be authorized security for any and all public deposits.
Source.
1982, 5:1, eff. Feb. 19, 1982.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-F - New Hampshire Municipal Bond Bank Educational Institutions Bond Financing Act › Section 195-F:11 - Exemption From Taxes, Levy and Sale.

195-F:11 Exemption From Taxes, Levy and Sale. –
I. All property of the educational institution division of the bank is hereby declared to be public property devoted to an essential public and governmental function and purpose and shall be exempt from all taxes and special assessments of the state or any subdivision thereof. All bonds or notes issued pursuant to this chapter are hereby declared to be issued by a body corporate and public of this state and for an essential public and governmental purpose and such bonds and notes, and the interest thereon and the income therefrom, and all fees, charges, funds, revenues, income and other moneys pledged or available to pay or secure the payment of such bonds or notes, or interest thereon, shall at all times be exempt from taxation except for transfer, inheritance and estate taxes.
II. All property of the educational institution division of the bank shall be exempt from levy and sale by virtue of an execution and no execution or other judicial process shall issue against the same nor shall any judgment against the bank be a charge or lien upon its property; provided, that nothing herein contained shall apply to or limit the rights of the holder of any bonds or notes to pursue any remedy for the enforcement of any pledge or lien given by the bank on its revenues or other moneys.
Source.
1982, 5:1, eff. Feb. 19, 1982.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-F - New Hampshire Municipal Bond Bank Educational Institutions Bond Financing Act › Section 195-F:12 - Insurance or Guaranty.

195-F:12 Insurance or Guaranty. –
The bank is authorized and empowered to obtain from any department or agency of the United States or from any nongovernmental insurer any insurance or guaranty (to the extent now or hereafter available) as to, or of, or for, the payment or repayment of, interest or principal, or both, or any part thereof, on any bonds or notes issued by the bank, or on any educational institution bonds purchased or held by the bank, pursuant to the provisions of this chapter; and notwithstanding any other provisions of this chapter to enter into any agreement or contract whatsoever with respect to any such insurance or guaranty except to the extent that the same would in any way impair or interfere with the ability of the bank to perform and fulfill the terms of any agreement made with the holders of the bonds or notes of the bank.
Source.
1982, 5:1, eff. Feb. 19, 1982.
2023 New Hampshire Revised Statutes › Title XV - Education › Chapter 195-F - New Hampshire Municipal Bond Bank Educational Institutions Bond Financing Act › Section 195-F:13 - Federal Funds; Withholding of Moneys.

195-F:13 Federal Funds;  Withholding of Moneys. –
I. The state treasurer is hereby authorized to receive from the United States or from any department or agency thereof any amounts of money as and when appropriated, allocated, granted, turned over or in any way provided for the purposes of this chapter, and said amounts shall be paid to the bank and be available to the bank.
II. Any funds or moneys in the custody or control of the state treasurer whether the same shall become available by reason of any grant, allocation or appropriation by the United States or the state or agencies thereof to assist any educational institution in payment of its educational institution bonds owned or held by the bank, or required by the terms of any other law to be paid to holders or owners of educational institution bonds upon failure or default of an educational institution to pay the principal of or interest on its educational institution bonds as and when due and payable, shall, to the extent that any such funds or moneys be applicable with respect to educational institution bonds of a particular educational institution which are then owned or held by the bank and as to which such educational institution has failed or defaulted to make payment of principal or interest as and when due, be paid to the bank for deposit in the reserve fund and made available to the bank.
III. To the extent that the state treasurer shall be the custodian at any time of any funds of moneys due or payable to an educational institution at any time subsequent to written notice to the state treasurer from the bank to the effect that such educational institution has not paid or is in default as to the payment of principal of or interest on any educational institution bonds then held or owned by the bank, the state treasurer shall withhold the payment of such funds or moneys from such educational institution until the amount of such principal or interest then due and unpaid has been paid to the bank, or the state treasurer has been advised that arrangements, satisfactory to the bank, have been made for the payment of such principal and interest.
Source.
1982, 5:1, eff. Feb. 19, 1982.