Section 21-21-25 - Collection of student loans; contracts authorized. - New-mexico Statutes

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Statutes > New-mexico > Chapter-21 > Article-21 > Section-21-21-25

21-21-25. Collection of student loans; contracts authorized.

The board of educational finance [commission on higher education] may contract with one or more attorneys or law firms or with any other private business concern to assist the board [commission] in collecting any defaulted loan made pursuant to the Student Loan Act [21-21-1 NMSA 1978] or the Student Loan Guarantee Act [21-21-14 NMSA 1978]. No contract shall be entered into pursuant to this section unless proposals have been sought from two or more qualified firms.

State Codes and Statutes

Statutes > New-mexico > Chapter-21 > Article-21 > Section-21-21-25

21-21-25. Collection of student loans; contracts authorized.

The board of educational finance [commission on higher education] may contract with one or more attorneys or law firms or with any other private business concern to assist the board [commission] in collecting any defaulted loan made pursuant to the Student Loan Act [21-21-1 NMSA 1978] or the Student Loan Guarantee Act [21-21-14 NMSA 1978]. No contract shall be entered into pursuant to this section unless proposals have been sought from two or more qualified firms.

State Codes and Statutes

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State Codes and Statutes

Statutes > New-mexico > Chapter-21 > Article-21 > Section-21-21-25

21-21-25. Collection of student loans; contracts authorized.

The board of educational finance [commission on higher education] may contract with one or more attorneys or law firms or with any other private business concern to assist the board [commission] in collecting any defaulted loan made pursuant to the Student Loan Act [21-21-1 NMSA 1978] or the Student Loan Guarantee Act [21-21-14 NMSA 1978]. No contract shall be entered into pursuant to this section unless proposals have been sought from two or more qualified firms.