The Florida Senate

¹240.477  Moneys, endowments, properties; acquisition, deposit, and guarantees.--Each authority is authorized to establish specific guidelines relating to the deposits of moneys, endowments, or properties by institutions which moneys, endowments, or properties would provide prudent security for education loan funding programs, authority loans, education loans, or obligations; and it may establish guidelines relating to guarantees of, or contracts to purchase, education loans or obligations by such institutions, financial institutions, or others. A default reserve fund may be established for each series or issue of obligations. In this regard, the authority is empowered to receive such moneys, endowments, properties, and guarantees as it deems appropriate and, if necessary, to take title in the name of the authority or in the name of a participating institution or a trustee, subject, however, to the limitations applicable to public participating institutions set forth in s. 240.474(8).

History.--s. 8, ch. 82-241; s. 3(7), ch. 2000-321.

¹Note.--Repealed January 7, 2003, by s. 3(7), ch. 2000-321, and shall be reviewed by the Legislature prior to that date.