reglab/statecodes huggingface dataset:
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter A. Administration › Section 52.03. Board Interest and Sinking Funds

Sec. 52.03.  BOARD INTEREST AND SINKING FUNDS.  (a)  The board by resolution may establish one or more interest and sinking funds as accounts in the state treasury.
(b)  A board interest and sinking fund established under this section consists of deposits made by the board as provided by this chapter.
(c)  A board interest and sinking fund established under this section may be used for any purpose related to the student loan program.
(d)  The board by resolution may create and provide the terms of administration and use of one or more accounts in a board interest and sinking fund established under this section.
Added by Acts 1993, 73rd Leg., ch. 571, Sec. 4, eff. Aug. 30, 1993.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter A. Administration › Section 52.04. Board Student Loan Funds

Sec. 52.04.  BOARD STUDENT LOAN FUNDS.  (a)  The board by resolution may establish one or more board student loan funds as accounts in the state treasury.
(b)  A board student loan fund established under this section consists of deposits made by the board as provided by this chapter.
(c)  A board student loan fund established under this section may be used for any purpose related to the student loan program.
(d)  The board by resolution may create and provide the terms of administration and use of one or more accounts in a board student loan fund established under this section.
Added by Acts 1993, 73rd Leg., ch. 571, Sec. 4, eff. Aug. 30, 1993.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter B. Bonds › Section 52.12. Refunding Bonds

Sec. 52.12.  REFUNDING BONDS.  (a)  The board may provide by resolution for the issuance of refunding bonds for the purpose of refunding any bonds issued under the provisions of this chapter and then outstanding, together with accrued interest on them.
(b)  The issuance of the refunding bonds, the maturities, and all other details of the bonds, the rights of the holders, and the duties of the board with respect to the bonds, shall be governed by the applicable provisions of Section 52.11 of this code.
(c)  The refunding bonds may be exchanged for the outstanding bonds or may be sold and the proceeds used to retire the outstanding bonds.
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter B. Bonds › Section 52.13. Bonds as Investments

Sec. 52.13.  BONDS AS INVESTMENTS.  All bonds issued pursuant to the provisions of this chapter are legal and authorized investments for banks, savings banks, trust companies, building and loan associations, insurance companies, fiduciaries, trustees, and guardians, and for the sinking funds of cities, towns, villages, counties, school districts, and all other political subdivisions and public agencies of the State of Texas.  The bonds, when accompanied by all unmatured coupons appurtenant to them, are lawful and sufficient security for all deposits of state funds and of all funds of any agency or political subdivision of the state, and of counties, school districts, cities, and all other municipal corporations or subdivisions at the par value of the bonds.  The bonds and the income from them, including the profits made on their sale, shall at all times be free from taxation in this state.
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter B. Bonds › Section 52.16. Proceeds From Bond Sale

Sec. 52.16.  PROCEEDS FROM BOND SALE.  All proceeds from the sale of bonds authorized by Sections 50b-4, 50b-5, 50b-6, and 50b-7, Article III, Texas Constitution, shall be deposited in the state treasury in the student loan auxiliary fund.
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.  Amended by Acts 1993, 73rd Leg., ch. 571, Sec. 6, eff. Aug. 30, 1993.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 325 (H.B. 4465), Sec. 2, eff. September 1, 2019.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter B. Bonds › Section 52.18. Duties of Comptroller

Sec. 52.18.  DUTIES OF COMPTROLLER.  The comptroller of public accounts shall make the transfers required under the provisions of this chapter and shall pay or cause to be paid the principal of and interest on the bonds as they mature and come due.
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.  Amended by Acts 1997, 75th Leg., ch. 1423, Sec. 5.11, eff. Sept. 1, 1997.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter B. Bonds › Section 52.19. Investment of Funds

Sec. 52.19.  INVESTMENT OF FUNDS.  All money in the Texas college interest and sinking fund and in each board interest and sinking fund, including any reserve portion, and all money in the Texas Opportunity Plan Fund and in the student loan auxiliary fund in excess of the amount necessary for student loans, and all money in each board student loan fund shall be invested by the comptroller in the investments prescribed by board resolution.  The board shall furnish to the comptroller a copy of the resolution prescribing authorized investments.  The board may sell any instruments owned in the Texas college interest and sinking fund, a board interest and sinking fund, the Texas Opportunity Plan Fund, the student loan auxiliary fund, or a board student loan fund at the prevailing market price.  Income from these investments may be deposited in any of those funds.
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.  Amended by Acts 1991, 72nd Leg., ch. 4, Sec. 2, eff. Feb. 28, 1991;  Acts 1991, 72nd Leg., 2nd C.S., ch. 5, Sec. 2, eff. Aug. 29, 1991;  Acts 1993, 73rd Leg., ch. 571, Sec. 8, eff. Aug. 30, 1993;  Acts 1997, 75th Leg., ch. 1423, Sec. 5.12, eff. Sept. 1, 1997.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 1334 (S.B. 1640), Sec. 6(b), eff. September 1, 2007.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter B. Bonds › Section 52.20. Student Loan Notes

Sec. 52.20.  STUDENT LOAN NOTES.  (a)  Promissory notes evidencing student loans made by the board with proceeds from bonds may be deposited and held in any fund as directed by the board resolution that authorized the issuance of the bonds.
(b)  The board may pledge and grant a security interest in all or any portion of those promissory notes to any person to further secure the payment of principal and interest on bonds issued under this chapter or of obligations under any contracts entered into by the board relating to the issuance of a series of bonds.
Added by Acts 1993, 73rd Leg., ch. 571, Sec. 9, eff. Aug. 30, 1993.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter C. Student Loans › Section 52.31. Participating Institutions

Sec. 52.31.  PARTICIPATING INSTITUTIONS.  In this subchapter, "participating higher educational institution" means a public or private nonprofit institution of higher education, including a junior college, accredited by a recognized accrediting agency as defined by Section 61.003, or a regional education service center or other entity that offers an alternative educator certification program approved by the State Board for Educator Certification, that:
(1)  is located in this state; and
(2)  complies with the provisions of this chapter and the rules of the board promulgated in accordance with this chapter.
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.
Amended by:
Acts 2005, 79th Leg., Ch. 1181 (S.B. 1227), Sec. 5, eff. September 1, 2005.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter C. Student Loans › Section 52.32. Qualifications for Loans

Sec. 52.32.  QUALIFICATIONS FOR LOANS.  (a)  The board may authorize loans from the Texas Opportunity Plan Fund or the student loan auxiliary fund to a qualified applicant who:
(1)  is a resident of this state as defined by the board in accordance with Subchapter B, Chapter 54;
(2)  has been accepted for enrollment at a participating higher educational institution;
(3)  has established that the student has insufficient resources to finance the student's college education or alternative educator certification program;
(4)  has submitted to the board at least two references, including the names of the persons giving those references and appropriate contact information for those persons; and
(5)  has complied with other requirements established by the rules adopted by the board in conformity with this chapter.
(a-1)  Repealed by Acts 2019, 86th Leg., R.S., Ch. 325 (H.B. 4465), Sec. 11(1), eff. September 1, 2019.
(b)  Repealed by Acts 2019, 86th Leg., R.S., Ch. 325 (H.B. 4465), Sec. 11(1), eff. September 1, 2019.
(c)  In no event may a higher standard of academic performance be required of an applicant than the minimum standard required for enrollment in the participating institution.  The student must be meeting the minimum academic requirements of the institution in the semester any loan is made.
(d)  Repealed by Acts 2007, 80th Leg., R.S., Ch. 1334, Sec. 6(e)(2), eff. September 1, 2007.
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.  Amended by Acts 1985, 69th Leg., ch. 892, Sec. 1, eff. Sept. 1, 1985;  Acts 1987, 70th Leg., 2nd C.S., ch. 23, Sec. 1, eff. Aug. 3, 1987;  Acts 1989, 71st Leg., ch. 1084, Sec. 2.01, eff. Sept. 1, 1989;  Acts 2003, 78th Leg., ch. 364, Sec. 2.01, eff. Sept. 1, 2003;  Acts 2003, 78th Leg., ch. 817, Sec. 8.16, eff. Sept. 1, 2003.
Amended by:
Acts 2005, 79th Leg., Ch. 1181 (S.B. 1227), Sec. 6, eff. September 1, 2005.
Acts 2007, 80th Leg., R.S., Ch. 1334 (S.B. 1640), Sec. 6(e)(2), eff. September 1, 2007.
Acts 2019, 86th Leg., R.S., Ch. 325 (H.B. 4465), Sec. 3, eff. September 1, 2019.
Acts 2019, 86th Leg., R.S., Ch. 325 (H.B. 4465), Sec. 11(1), eff. September 1, 2019.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter C. Student Loans › Section 52.321. Standards Concerning Ability to Repay Certain Loans

Sec. 52.321.  STANDARDS CONCERNING ABILITY TO REPAY CERTAIN LOANS.  In establishing requirements to be met by applicants for student loans authorized by the board under this chapter, the board may not establish standards relating to demonstration of ability to repay a federally insured student loan that are stricter for a certain class of applicants than for other applicants, except in cases where the applicant attends a school with a loan default rate of 15 percent or more.
Added by Acts 1989, 71st Leg., ch. 1084, Sec. 2.02, eff. Sept. 1, 1989.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter C. Student Loans › Section 52.33. Amount of Loan

Sec. 52.33.  AMOUNT OF LOAN.  The amount of the loan to any qualified applicant shall be limited to the difference between the financial resources available to the applicant, including the applicant's scholarships, gifts, grants, and other financial aid, and the amount necessary to pay the applicant's reasonable expenses as a student at the participating institution of higher education where the applicant has been accepted for enrollment, under the rules and regulations adopted by the board.  The total loan to any individual student may never be more than the amount the student can reasonably be expected to repay in the maximum loan period provided by board rule, except as otherwise provided for in this chapter.
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.  Amended by Acts 1987, 70th Leg., 2nd C.S., ch. 23, Sec. 2, eff. Aug. 3, 1987.
Amended by:
Acts 2005, 79th Leg., Ch. 1181 (S.B. 1227), Sec. 7, eff. September 1, 2005.
Acts 2019, 86th Leg., R.S., Ch. 325 (H.B. 4465), Sec. 4, eff. September 1, 2019.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter C. Student Loans › Section 52.335. Required Loan Debt Disclosure

Sec. 52.335.  REQUIRED LOAN DEBT DISCLOSURE.  (a)  This section applies to a participating higher educational institution that enrolls one or more students receiving state financial aid administered by the Texas Higher Education Coordinating Board.
(b)  At least annually a participating higher educational institution to which this section applies that receives education loan information for a student enrolled at the institution shall provide to that student in an electronic communication the following information:
(1)  an estimate of the total amount of state and federal education loans incurred by the student;
(2)  an estimate of the total payoff amount, or a range for that amount, for the amount described by Subdivision (1), including principal and interest; and
(3)  an estimate of the monthly repayment amount that the student may incur for the repayment of the amount described by Subdivision (1), including principal and interest.
(b-1)  A participating higher educational institution is not required to provide in any disclosure or report required under this section information regarding loans issued by a private entity.
(c)  A participating higher educational institution is required to include in the disclosure only education loan debt information regarding the student that the institution:
(1)  receives or otherwise obtains from the United States Department of Education's central database for student aid; and
(2)  may reasonably collect from its own records.
(d)  The disclosure required under this section must:
(1)  identify the types of education loans included in the institution's estimates; and
(2)  include:
(A)  a statement that the disclosure is not a complete and official record of the student's education loan debt;
(B)  an explanation regarding why the disclosure may not be complete or accurate, including an explanation that for a transfer student, the institution's estimates regarding state loans reflect only state loans incurred by the student for attendance at the institution; and
(C)  a statement that the institution's estimates are general in nature and are not intended as a guarantee or promise.
(e)  A participating higher educational institution does not incur liability for any representation made under this section.
(f)  The Texas Higher Education Coordinating Board shall adopt rules for the administration of this section.
Added by Acts 2017, 85th Leg., R.S., Ch. 202 (S.B. 887), Sec. 1, eff. May 27, 2017.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 573 (S.B. 241), Sec. 1.05, eff. September 1, 2019.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter C. Student Loans › Section 52.34. Payments to Student

Sec. 52.34.  PAYMENTS TO STUDENT.  (a)  No payment may be made to any student until the student has executed a note payable to the Texas Opportunity Plan Fund or the student loan auxiliary fund for the full amount of the authorized loan plus interest.
(b)  For the purposes of this chapter, a student has the capacity to contract and is bound by any contract executed by the student, and the defense that the student was a minor at the time the student executed the note is not available to the student in any action arising on the note.
(c)  Payments to students executing notes may be made annually, semiannually, quarterly, monthly, or for each semester as the board may determine, depending on the demonstrated capacity of the student to manage the student's financial affairs.
(d)  Disbursements may be made by the board or by the participating institution pursuant to a contract between the board and the institution executed in conformity with this chapter.
(e)  Money may be distributed to a participating institution only to make payments to a student under a loan authorized by this chapter.
(f)  The board shall distribute money to a participating institution through the current statewide accounting system.
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.  Amended by Acts 2003, 78th Leg., ch. 820, Sec. 45, eff. Sept. 1, 2003.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 325 (H.B. 4465), Sec. 5, eff. September 1, 2019.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter C. Student Loans › Section 52.35. Term of Loans

Sec. 52.35.  TERM OF LOANS.  The term of all authorized loans must be for the shortest possible period consistent with general practice by issuers of student loans, as determined by the board.
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.  Amended by Acts 1971, 62nd Leg., p. 3339, ch. 1024, art. 2, Sec. 7, eff. Sept. 1, 1971;  Acts 1987, 70th Leg., 2nd C.S., ch. 23, Sec. 3, eff. Aug. 3, 1987.
Amended by:
Acts 2005, 79th Leg., Ch. 1181 (S.B. 1227), Sec. 8, eff. September 1, 2005.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter C. Student Loans › Section 52.36. Loan Interest and Fees

Sec. 52.36.  LOAN INTEREST AND FEES.  (a)  The board shall from time to time fix the interest to be charged for any student loan at a rate sufficient to pay the interest on outstanding bonds, any expenses incident to their issuance, sale, and retirement, and all or a portion of the board's expenses related to the operation of the student loan program.  Interest shall be postponed by the board as long as a student is enrolled at a participating institution and may be postponed at the board's discretion as long as a student is enrolled at any other higher educational institution, provided that the total interest paid is to be equal to that fixed at the time the note evidencing the loan is executed.
(b)  The board may charge and collect loan origination fees from borrowers for use in offsetting in whole or in part the operating expenses for the loans.
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.  Amended by Acts 1979, 66th Leg., p. 785, ch. 347, Sec. 1, eff. June 6, 1979;  Acts 1987, 70th Leg., 2nd C.S., ch. 23, Sec. 4, eff. Aug. 3, 1987;  Acts 1993, 73rd Leg., ch. 571, Sec. 10, eff. Aug. 30, 1993.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter C. Student Loans › Section 52.37. Insurance

Sec. 52.37.  INSURANCE.  The board may contract with any insurance company or companies licensed to do business in Texas for insurance on the life of any student borrower in an amount sufficient to retire the principal and interest owed under a loan made under the provisions of this chapter.  The cost of the insurance shall be paid by the student borrower.  No contract for insurance as provided for in this section may be approved except by the board during a regular meeting attended by a quorum of the total board membership.
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter C. Student Loans › Section 52.38. Repayment of Loans

Sec. 52.38.  REPAYMENT OF LOANS.  Repayment of any loan and interest authorized under this chapter shall be made monthly and shall begin not later than nine months after the date the student borrower is last enrolled in a participating institution or any other institution of higher education.  The board may, however, authorize a longer period before beginning repayment of loans to medical students, dental students, and other students seeking professional or graduate degrees.  The board may extend the time for beginning repayment for unusual financial hardships, with the approval of the attorney general.  Repayment shall be made directly to the board pursuant to a contract executed by the board in accordance with its rules and regulations.
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.  Amended by Acts 1971, 62nd Leg., p. 3339, ch. 1024, art. 2, Sec. 7, eff. Sept. 1, 1971.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 325 (H.B. 4465), Sec. 6, eff. September 1, 2019.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter C. Student Loans › Section 52.39. Default; Suit

Sec. 52.39.  DEFAULT; SUIT.  When any person who has received or cosigned as a guarantor for a loan authorized by this chapter has failed or refused to make as many as six monthly payments due in accordance with an executed note, then the full amount of the remaining principal and interest becomes due and payable immediately, and the amount due, the person's name and last known address, and other necessary information shall be reported by the board to the attorney general.  Suit for the remaining sum shall be instituted by the attorney general, unless the attorney general finds reasonable justification for delaying suit and so advises the board in writing.  Venue for a suit arising under this section is exclusively conferred on a court of competent jurisdiction in Travis County.
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 1155 (S.B. 215), Sec. 3, eff. September 1, 2013.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter C. Student Loans › Section 52.41. Servicing of Certain Federally Insured Student Loans

Sec. 52.41.  SERVICING OF CERTAIN FEDERALLY INSURED STUDENT LOANS.  (a)  Repealed by Acts 2019, 86th Leg., R.S., Ch. 325 (H.B. 4465), Sec. 11(3), eff. September 1, 2019.
(b)  The board may service any outstanding student loans issued by the board under the Federal Family Education Loan Program authorized under Part B, Title IV, of the Higher Education Act of 1965 (20 U.S.C. Section 1071 et seq.).
(c)  Repealed by Acts 2019, 86th Leg., R.S., Ch. 325 (H.B. 4465), Sec. 11(3), eff. September 1, 2019.
Added by Acts 2003, 78th Leg., ch. 820, Sec. 46, eff. Sept. 1, 2003.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 325 (H.B. 4465), Sec. 7, eff. September 1, 2019.
Acts 2019, 86th Leg., R.S., Ch. 325 (H.B. 4465), Sec. 8, eff. September 1, 2019.
Acts 2019, 86th Leg., R.S., Ch. 325 (H.B. 4465), Sec. 11(3), eff. September 1, 2019.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter D. General Provisions › Section 52.501. Definitions

Sec. 52.501.  DEFINITIONS.  In this chapter:
(1)  "Board" means the Texas Higher Education Coordinating Board.
(2)  "Board interest and sinking fund" means an interest and sinking fund established by the board under Section 52.03 of this code.
(3)  "Board student loan fund" means a student loan fund established by the board under Section 52.04 of this code.
(4)  "Bond" means a general obligation bond issued by the board under Section 50b-4, 50b-5, 50b-6, or 50b-7, Article III, Texas Constitution, or any former provision of the Texas Constitution authorizing bonds to finance educational loans to students.
(5)  "Student loan program" means the student loan program administered by the board under this chapter.
Added by Acts 1993, 73rd Leg., ch. 571, Sec. 1, eff. Aug. 30, 1993.  Amended by Acts 1995, 74th Leg., ch. 300, Sec. 2, eff. Nov. 7, 1995;  Acts 1999, 76th Leg., ch. 144, Sec. 2, eff. Nov. 2, 1999.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 1334 (S.B. 1640), Sec. 2.
Acts 2011, 82nd Leg., R.S., Ch. 1251 (S.B. 1799), Sec. 2.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter D. General Provisions › Section 52.51. Advisory Committees

Sec. 52.51.  ADVISORY COMMITTEES.  The board may appoint advisory committees from outside its membership as it deems necessary to assist it in achieving the purposes of this chapter.
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter D. General Provisions › Section 52.52. Contracts

Sec. 52.52.  CONTRACTS.  (a)  Except as provided by this section, in achieving the goals outlined in this chapter and the performance of functions assigned to it, the board may contract with any other state governmental agency as authorized by law, with any agency of the United States, and with corporations, associations, partnerships, and individuals.
(b)  The board may not make an agreement with a guarantor concerning any insured student loans the board authorizes that requires the board to file suit or take other action to collect on a defaulted loan beyond the 365th day after the official default date occurs on the loan, unless such a requirement is imposed by the guarantor on other lenders making the same kind of insured student loans.
(c)  Not later than January 1, 1991, the board shall amend its contract with the United States Department of Education that requires the board to file suit to obtain judgment on a defaulted loan before filing a claim on the defaulted loan with the guarantor to reflect the requirement in Subsection (b) of this section.
(d)  The board may approve and enter into agreements that are necessary for the operation of the student loan program or that relate to the issuance of bonds.
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.  Amended by Acts 1989, 71st Leg., ch. 1084, Sec. 2.04, eff. Sept. 1, 1989;  Acts 1993, 73rd Leg., ch. 571, Sec. 11, eff. Aug. 30, 1993.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter D. General Provisions › Section 52.521. Filing of Claims on Loans in Default

Sec. 52.521.  FILING OF CLAIMS ON LOANS IN DEFAULT.  (a)  The board shall file a claim with the appropriate guarantor on an insured loan in default as soon as it is practicable to do so in accordance with the guarantor's rules.
(b)  The board shall deposit funds obtained as a result of any claims, including claims filed on loans in default that have been litigated as provided under a contract with the United States Department of Education, filed with a guarantor in the Texas Opportunity Plan Fund or in the student loan auxiliary fund in the appropriate account to be used for making student loans.
Added by Acts 1989, 71st Leg., ch. 1084, Sec. 2.05, eff. Sept. 1, 1989.  Amended by Acts 1991, 72nd Leg., 2nd C.S., ch. 5, Sec. 3.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter D. General Provisions › Section 52.53. Gifts and Grants

Sec. 52.53.  GIFTS AND GRANTS.  The board may accept gifts, grants, or donations of real or personal property from any individual, group, association, or corporation or the United States, subject to limitations or conditions set by law.  The board shall deposit gifts, grants, or donations of money in the student loan auxiliary fund and shall separately account for and expend the funds in accordance with the specific purpose for which given and under such conditions as are imposed by the donor and as provided by law.
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.  Amended by Acts 1991, 72nd Leg., 2nd C.S., ch. 5, Sec. 4.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 325 (H.B. 4465), Sec. 9, eff. September 1, 2019.
Sec. 52.54.  RULES AND REGULATIONS.  (a)  The board shall adopt and publish rules and regulations to effectuate the purposes of this chapter in accordance with and under the conditions applied to other agencies by Chapter 274, Acts of the 57th Legislature, Regular Session, 1961, as amended (Article 6252-13, Vernon's Texas Civil Statutes).
(b)  The board may adopt rules and regulations necessary for participation in the federal guaranteed loan program provided by the Higher Education Act of 1965 (Public Law 89-329).
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.  Amended by Acts 1971, 62nd Leg., p. 3340, ch. 1024, art. 2, Sec. 7, eff. Sept. 1, 1971.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter D. General Provisions › Section 52.541. Accounts for Loan Programs

Sec. 52.541.  ACCOUNTS FOR LOAN PROGRAMS.  (a)  The board shall establish separate accounting within the Texas Opportunity Plan Fund and the student loan auxiliary fund for each of its existing loan programs.
(b)  If a loan program is established after September 1, 1989, the board shall establish separate accounting within the Texas Opportunity Plan Fund and the student loan auxiliary fund for that loan program.
(c)  The board may transfer funds between the Texas Opportunity Plan Fund and the student loan auxiliary fund and among the separate accounts established under this section within those funds if:
(1)  the transfer is approved by the board and is necessary to administer the Texas Opportunity Plan Fund or the student loan auxiliary fund; and
(2)  the reason for the transfer is documented in the accounting of the funds.
Added by Acts 1989, 71st Leg., ch. 1084, Sec. 2.06, eff. Sept. 1, 1989.  Amended by Acts 1991, 72nd Leg., 2nd C.S., ch. 5, Sec. 4.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 1334 (S.B. 1640), Sec. 6(c), eff. September 1, 2007.
Acts 2019, 86th Leg., R.S., Ch. 325 (H.B. 4465), Sec. 10, eff. September 1, 2019.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter D. General Provisions › Section 52.55. Audit

Sec. 52.55.  AUDIT.  All transactions under the provisions of this chapter are subject to audit by the state auditor.
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter F. Additional Bonds › Section 52.81. Definitions

Sec. 52.81.  DEFINITIONS.  In this subchapter:
(1)  "Board" means the Texas Higher Education Coordinating Board.
(2)  "Bond" means a general obligation bond issued by the board under former Section 50b-3 or Section 50b-4, 50b-5, 50b-6, or 50b-7, Article III, Texas Constitution.
(3)  "Fund" means the student loan auxiliary fund.
Added by Acts 1991, 72nd Leg., 2nd C.S., ch. 5, Sec. 1.  Amended by Acts 1995, 74th Leg., ch. 300, Sec. 3, eff. Nov. 7, 1995;  Acts 1999, 76th Leg., ch. 144, Sec. 3, eff. Nov. 2, 1999.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 1334 (S.B. 1640), Sec. 3.
Acts 2011, 82nd Leg., R.S., Ch. 1251 (S.B. 1799), Sec. 3.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter F. Additional Bonds › Section 52.82. Issuance; Sale

Sec. 52.82.  ISSUANCE;  SALE.
(a)  The board may by resolution authorize the issuance of general obligation bonds.  The principal amount of outstanding bonds issued under this section must at all times be equal to or less than the amount provided by Section 50b-7, Article III, Texas Constitution.
(b)  Before the board may issue bonds under this subchapter, the Bond Review Board must review and approve the bonds under Chapter 1231, Government Code.
(c)  The board may sell the bonds at a negotiated sale if the board determines that a negotiated sale is a more efficient and economical method of selling the bonds.  If the board has determined that the bonds will be sold by competitive bid, the board by resolution shall prescribe the manner of giving notice of the sale.
(d)  The total amount of bonds issued by the board in a state fiscal year may not exceed $350 million.
Added by Acts 1991, 72nd Leg., 2nd C.S., ch. 5, Sec. 1.  Amended by Acts 1995, 74th Leg., ch. 300, Sec. 4;  Acts 1999, 76th Leg., ch. 144, Sec. 4;  Acts 2001, 77th Leg., ch. 1420, Sec. 8.215, eff. Sept. 1, 2001;  Acts 2003, 78th Leg., ch. 779, Sec. 2, eff. June 20, 2003.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 1334 (S.B. 1640), Sec. 4.
Acts 2007, 80th Leg., R.S., Ch. 1334 (S.B. 1640), Sec. 6(d), eff. September 1, 2007.
Acts 2011, 82nd Leg., R.S., Ch. 1251 (S.B. 1799), Sec. 4.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter F. Additional Bonds › Section 52.83. Terms

Sec. 52.83.  TERMS.  (a)  Except as provided by this subchapter, the board by resolution may provide the terms and name of the bonds.
(b)  The bonds must be dated and bear interest at a rate or rates prescribed by the board in accordance with the resolution for the issuance of the bonds, except that the rate may not exceed the maximum net effective rate allowed by law.  The resolution may provide for:
(1)  any type of rate, including a fixed, variable, floating, or adjustable rate;  and
(2)  any arrangement for the periodic determination of interest rates, including a formula, index, or contract.
(c)  The bonds must mature serially or otherwise not later than the 40th year after the date of their issuance.
(d)  The bonds may have a different face value from other bonds issued by the board.
Added by Acts 1991, 72nd Leg., 2nd C.S., ch. 5, Sec. 1.  Amended by Acts 1993, 73rd Leg., ch. 571, Sec. 12, eff. Aug. 30, 1993.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter F. Additional Bonds › Section 52.84. Execution; Registration

Sec. 52.84.  EXECUTION;  REGISTRATION.  The resolution authorizing the issuance of the bonds may provide for the manner of execution and for the registration of ownership of the bonds.
Added by Acts 1991, 72nd Leg., 2nd C.S., ch. 5, Sec. 1.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter F. Additional Bonds › Section 52.85. Marketing; Distribution

Sec. 52.85.  MARKETING;  DISTRIBUTION.  (a)  The board shall coordinate the marketing and distribution of the bonds.
(b)  The board may use its staff to market and distribute the bonds or may contract with another entity to market and distribute the bonds.
Added by Acts 1991, 72nd Leg., 2nd C.S., ch. 5, Sec. 1.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter F. Additional Bonds › Section 52.86. Approval and Registration

Sec. 52.86.  APPROVAL AND REGISTRATION.  (a)  The attorney general shall examine the bonds and the records relating to the bonds' issuance.
(b)  If the attorney general finds that the bonds have been issued in accordance with law, the attorney general shall approve the bonds, and the comptroller of public accounts shall register the bonds.
(c)  Following approval and registration, the bonds are incontestable and are binding obligations according to their terms.
Added by Acts 1991, 72nd Leg., 2nd C.S., ch. 5, Sec. 1.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter F. Additional Bonds › Section 52.87. Mandamus

Sec. 52.87.  MANDAMUS.  The performance of official duties prescribed by this subchapter and by former Section 50b-3 and Sections 50b-4, 50b-5, 50b-6, and 50b-7, Article III, Texas Constitution, in reference to the payment of the bonds, may be enforced in a court of competent jurisdiction by mandamus or other appropriate proceedings.
Added by Acts 1991, 72nd Leg., 2nd C.S., ch. 5, Sec. 1.  Amended by Acts 1995, 74th Leg., ch. 300, Sec. 5 eff. November 7, 1995;  Acts 1999, 76th Leg., ch. 144, Sec. 5, eff. November 2, 1999.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 1334 (S.B. 1640), Sec. 5, eff. November 6, 2007;
Acts 2011, 82nd Leg., R.S., Ch. 1251 (S.B. 1799), Sec. 5, eff. May 24, 2011.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter F. Additional Bonds › Section 52.88. Replacement of Bond

Sec. 52.88.  REPLACEMENT OF BOND.  The board may provide for the replacement of a bond that is mutilated, lost, or destroyed.
Added by Acts 1991, 72nd Leg., 2nd C.S., ch. 5, Sec. 1.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter F. Additional Bonds › Section 52.89. Fund

Sec. 52.89.  FUND.  (a)  A special fund to be known as the student loan auxiliary fund is created in the state treasury.
(b)  The fund consists of proceeds from the sale of the bonds deposited in accordance with this section, gifts or grants made to the board for purposes of the fund, and deposits made as authorized by this chapter.
(c)  The board shall deposit to the credit of the fund any proceeds from the sale of bonds, excluding:
(1)  any accrued interest on the bonds which shall be deposited in the board interest and sinking fund relating to the bonds; and
(2)  proceeds from the sale of bonds issued by the board under Section 56.464(b), as that subsection existed immediately before September 1, 2015.
(c-1)  Repealed by Acts 2015, 84th Leg., R.S., Ch. 1243 , Sec. 8(1), eff. September 1, 2015.
(d)  The board by resolution may create and provide the terms of the administration and use of an interest and sinking account or other accounts in the fund.
Added by Acts 1991, 72nd Leg., 2nd C.S., ch. 5, Sec. 1.  Amended by Acts 1993, 73rd Leg., ch. 571, Sec. 13, eff. Aug. 30, 1993;  Acts 2003, 78th Leg., ch. 779, Sec. 3, eff. June 20, 2003.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 1243 (H.B. 700), Sec. 1, eff. September 1, 2015.
Acts 2015, 84th Leg., R.S., Ch. 1243 (H.B. 700), Sec. 8(1), eff. September 1, 2015.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter F. Additional Bonds › Section 52.90. Loans From Fund

Sec. 52.90.  LOANS FROM FUND.
(a)  The board  shall make a loan from the fund to a student who qualifies for a loan under Subchapter C.
(b)  Loans from the fund are governed by Subchapter C.
(c)  The board may charge and collect a loan origination fee from a person who receives a loan from the fund.  The board may use the fee to pay operating expenses for making loans under this section.
Added by Acts 1991, 72nd Leg., 2nd C.S., ch. 5, Sec. 1.  Amended by Acts 2003, 78th Leg., ch. 779, Sec. 4, eff. June 20, 2003.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 1243 (H.B. 700), Sec. 2, eff. September 1, 2015.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 52 - Student Loan Program › Subchapter F. Additional Bonds › Section 52.91. Bonds for Former Texas B-on-Time Student Loan Program

Sec. 52.91.  BONDS FOR FORMER TEXAS B-ON-TIME STUDENT LOAN PROGRAM.
(a)  The board shall deposit to the credit of the Texas B-On-time student loan account established under Section 56.0092 any proceeds from the sale of bonds issued by the board to fund Texas B-On-time student loans under Section 56.464(b), as that subsection existed immediately before September 1, 2015, other than  accrued interest on the bonds, which shall be deposited to the credit of the interest and sinking fund related to the bonds.
(b)  Repealed by Acts 2015, 84th Leg., R.S., Ch. 1243 , Sec. 8(1), eff. September 1, 2015.
(c)  The board shall repay bonds described by Subsection (a) using proceeds from the bonds, legislative appropriations, and money collected by the board as repayment for Texas B-On-time student loans awarded by the board under Section 56.0092(c) for a semester or term occurring before the 2020 fall semester.  The board may also repay the bonds by using tuition set aside under Section 56.465, as that section existed immediately before September 1, 2015, for a semester or term occurring before the 2015 fall semester.  The board may not repay the bonds with money collected by the board as repayment for student loans awarded by the board under Subchapter C.
Added by Acts 2003, 78th Leg., ch. 779, Sec. 4, eff. June 20, 2003.
Amended by:
Acts 2005, 79th Leg., Ch. 1181 (S.B. 1227), Sec. 9, eff. September 1, 2005.
Acts 2005, 79th Leg., Ch. 1230 (H.B. 1172), Sec. 2, eff. June 18, 2005.
Acts 2015, 84th Leg., R.S., Ch. 1243 (H.B. 700), Sec. 3, eff. September 1, 2015.
Acts 2015, 84th Leg., R.S., Ch. 1243 (H.B. 700), Sec. 4, eff. September 1, 2015.
Acts 2015, 84th Leg., R.S., Ch. 1243 (H.B. 700), Sec. 8(1), eff. September 1, 2015.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 53 - Higher Education Facility Authorities for Public Schools › Subchapter A. General Provisions › Section 53.01. Short Title

Sec. 53.01.  SHORT TITLE.  This chapter may be cited as the Higher Education Facility Authority for Public Schools Act.
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.
Reenacted and amended by Acts 2005, 79th Leg., Ch. 641 (H.B. 2701), Sec. 1, eff. September 1, 2005.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 53 - Higher Education Facility Authorities for Public Schools › Subchapter B. Administrative Provisions › Section 53.11. Creation of Authority

Sec. 53.11.  CREATION OF AUTHORITY.  When the governing body of a city finds that it is to the best interest of the city and its inhabitants to create a higher education facility authority, it shall pass an ordinance creating the authority and designating the name by which it shall be known.  If the governing bodies of two or more cities find that it is to the best interest of the cities to create an authority to include those cities, each governing body shall pass an ordinance creating the authority and designating the name by which it shall be known.
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.
Reenacted and amended by Acts 2005, 79th Leg., Ch. 641 (H.B. 2701), Sec. 1, eff. September 1, 2005.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 53 - Higher Education Facility Authorities for Public Schools › Subchapter B. Administrative Provisions › Section 53.12. Territory

Sec. 53.12.  TERRITORY.  The authority comprises only the territory included within the boundaries of the city or cities creating it.
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.
Reenacted and amended by Acts 2005, 79th Leg., Ch. 641 (H.B. 2701), Sec. 1, eff. September 1, 2005.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 53 - Higher Education Facility Authorities for Public Schools › Subchapter B. Administrative Provisions › Section 53.13. Corporate Powers

Sec. 53.13.  CORPORATE POWERS.  An authority is a body politic and corporate having the power of perpetual succession.  It shall have a seal; it may sue and be sued; and it may make, amend, and repeal its bylaws.
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.
Reenacted and amended by Acts 2005, 79th Leg., Ch. 641 (H.B. 2701), Sec. 1, eff. September 1, 2005.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 53 - Higher Education Facility Authorities for Public Schools › Subchapter B. Administrative Provisions › Section 53.131. Authority's Earnings

Sec. 53.131.  AUTHORITY'S EARNINGS.  A private person may not share in any of an authority's earnings.
Added by Acts 1983, 68th Leg., p. 861, ch. 200, Sec. 3, eff. Aug. 29, 1983.
Reenacted and amended by Acts 2005, 79th Leg., Ch. 641 (H.B. 2701), Sec. 1, eff. September 1, 2005.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 53 - Higher Education Facility Authorities for Public Schools › Subchapter B. Administrative Provisions › Section 53.14. Board of Directors

Sec. 53.14.  BOARD OF DIRECTORS.  (a)  The authority shall be governed by a board of directors consisting of not less than 7 nor more than 11 members to be determined at the time of creating the authority.  The directors shall be appointed by the governing body of the city or by the governing bodies of the cities, and they shall serve until their successors are appointed as provided by this section.  If the authority includes more than one city, each governing body shall appoint an equal number of directors unless otherwise agreed by the cities.
(b)  The members of the board serve for two-year terms.
(c)  No officer or employee of any such city is eligible for appointment as a director.  Directors are not entitled to compensation for services but are entitled to reimbursement for expenses incurred in performing such service.
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.  Amended by Acts 1983, 68th Leg., p. 861, ch. 200, Sec. 4, eff. Aug. 29, 1983.
Reenacted and amended by Acts 2005, 79th Leg., Ch. 641 (H.B. 2701), Sec. 1, eff. September 1, 2005.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 53 - Higher Education Facility Authorities for Public Schools › Subchapter B. Administrative Provisions › Section 53.15. Organization of Board; Quorum; Employees; Counsel

Sec. 53.15.  ORGANIZATION OF BOARD; QUORUM; EMPLOYEES; COUNSEL.  (a)  The board shall elect from among its members a president and vice president, and shall elect a secretary and a treasurer who may or may not be directors, and may elect other officers as authorized by the authority's bylaws.  The offices of secretary and treasurer may be combined.
(b)  The president has the same right to vote on all matters as other members of the board.
(c)  A majority constitutes a quorum, and when a quorum is present action may be taken by a majority vote of directors present.
(d)  The board may employ a manager or executive director of the facilities and other employees, experts, and agents as it sees fit.  It may delegate to the manager the power to employ and discharge employees.
(e)  The board may employ legal counsel.
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.
Reenacted and amended by Acts 2005, 79th Leg., Ch. 641 (H.B. 2701), Sec. 1, eff. September 1, 2005.
2023 Texas Statutes › Education Code › Title 3 - Higher Education › Subtitle A - Higher Education in General › Chapter 53 - Higher Education Facility Authorities for Public Schools › Subchapter C. Powers and Duties › Section 53.31. No Taxing Power

Sec. 53.31.  NO TAXING POWER.  An authority has no power to tax.
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.
Reenacted and amended by Acts 2005, 79th Leg., Ch. 641 (H.B. 2701), Sec. 1, eff. September 1, 2005.