State Codes and Statutes
Statutes > Maine > Title20a > Title20-Ach418sec0 > Title20-Asec11504Title 20-A: EDUCATION
Part 5: POST-SECONDARY EDUCATION
Chapter 418: STUDENT LOAN CORPORATIONS
§11504. Incorporators
1. Formation of student loan corporation. An institution for higher education may, by a 2/3 vote of its board of trustees or other governing body, agree to form or to join with other institutions for higher education to form a student loan corporation for the purpose of providing low-cost financial assistance to qualified students enrolled at that institution or to the parents of these students. The student loan corporation shall be organized under the provisions of Title 13-B, and the incorporators shall be persons as are authorized by the trustees or other governing body.
[ 1983, c. 422, §21 (NEW) .]
2. Incorporators deemed to be acting on behalf of board. 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.
[ 1983, c. 422, §21 (NEW) .]
SECTION HISTORY
1983, c. 422, §21 (NEW).
