(a) The Tennessee student assistance corporation, referred to in this part as TSAC, is given full power and authority to guarantee one hundred percent (100%) of any student loan, or one hundred percent (100%) of any loan made to a student's parent under the provisions of the federal Higher Education Act of 1965, compiled in 20 U.S.C. § 1001 et seq.
(b) Loans guaranteed by TSAC shall be evidenced by a note or contract that is valid and fully enforceable in a court of law or equity.
(c) A student receiving a loan guarantee provided by the corporation shall be without recourse to plead minority in any court of law or equity.
(d) The total reserve funds available for purposes of parts 2 and 3, this part and parts 5-7 of this chapter shall be maintained at least at the minimum level required by the federal Higher Education Act of 1965.
(a) The Tennessee student assistance corporation, referred to in this part as TSAC, is given full power and authority to guarantee one hundred percent (100%) of any student loan, or one hundred percent (100%) of any loan made to a student's parent under the provisions of the federal Higher Education Act of 1965, compiled in 20 U.S.C. § 1001 et seq.
(b) Loans guaranteed by TSAC shall be evidenced by a note or contract that is valid and fully enforceable in a court of law or equity.
(c) A student receiving a loan guarantee provided by the corporation shall be without recourse to plead minority in any court of law or equity.
(d) The total reserve funds available for purposes of parts 2 and 3, this part and parts 5-7 of this chapter shall be maintained at least at the minimum level required by the federal Higher Education Act of 1965.
(a) The Tennessee student assistance corporation, referred to in this part as TSAC, is given full power and authority to guarantee one hundred percent (100%) of any student loan, or one hundred percent (100%) of any loan made to a student's parent under the provisions of the federal Higher Education Act of 1965, compiled in 20 U.S.C. § 1001 et seq.
(b) Loans guaranteed by TSAC shall be evidenced by a note or contract that is valid and fully enforceable in a court of law or equity.
(c) A student receiving a loan guarantee provided by the corporation shall be without recourse to plead minority in any court of law or equity.
(d) The total reserve funds available for purposes of parts 2 and 3, this part and parts 5-7 of this chapter shall be maintained at least at the minimum level required by the federal Higher Education Act of 1965.
