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Education Code - EDC - EDC § 94156
Education Code - EDC - EDC § 94156
The exercise of the powers granted by this chapter will be in all respects for the benefit of the people of this state, for the increase of their commerce, welfare, and prosperity, and for the improvement of their health and living conditions, and as the operation and maintenance
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Education Code - EDC - EDC § 94157
Education Code - EDC - EDC § 94157
As used in this article, unless the context requires otherwise, the following terms have the following meanings: (a) “Executive director” means the Executive Director of the California Educational Facilities Authority. (b) “Financial institution” means a bank as defined under par
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Education Code - EDC - EDC § 94158
Education Code - EDC - EDC § 94158
(a) The California Student Loan Refinancing Program is hereby established under the administration of the authority. The goal of the program is to help college graduates who meet the eligibility criteria of the program, who are defined as qualified borrowers under Section 94157,
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Education Code - EDC - EDC § 94159
Education Code - EDC - EDC § 94159
(a) The authority shall establish a loss reserve account for each financial institution with which the authority enters into a contract. (b) The loss reserve account for a financial institution shall consist of moneys deposited by the authority and, as applicable, deposited by th
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Education Code - EDC - EDC § 94160
Education Code - EDC - EDC § 94160
(a) If a financial institution seeks to enroll a qualified loan in the program in order to obtain the protection against loss provided by its loss reserve account, after disclosing relevant qualified loan financial information to the qualified borrower, it shall notify the author
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Education Code - EDC - EDC § 94161
Education Code - EDC - EDC § 94161
(a) The authority shall establish procedures under which financial institutions may submit claims for reimbursement for losses incurred as a result of qualified loan defaults. A financial institution that charges off all or part of a qualified loan to the loss reserve account may
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Education Code - EDC - EDC § 94162
Education Code - EDC - EDC § 94162
Notwithstanding Section 10231.5 of the Government Code, the authority shall annually submit a report to the Governor and the Legislature that describes the program’s financial condition and its results. Programmatic results described in the report shall include, but not necessari
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Education Code - EDC - EDC § 94163
Education Code - EDC - EDC § 94163
The authority may enter into agreements with financial institutions, or with other agencies of the state, to provide necessary assistance in carrying out the program, including origination and servicing of qualified loans.
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Education Code - EDC - EDC § 94164
Education Code - EDC - EDC § 94164
Notwithstanding the other provisions of this article, the authority may facilitate the development of a secondary market for a qualified loan under the program by providing security for that loan, thereby increasing participation in the program by financial institutions and impro
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Education Code - EDC - EDC § 94165
Education Code - EDC - EDC § 94165
The authority may adopt emergency regulations for the implementation of the program. Any emergency regulations that may be adopted by the authority under this section shall be adopted in accordance with the Administrative Procedure Act (Chapter 3.5 (commencing with Section 11340)
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Education Code - EDC - EDC § 94170
Education Code - EDC - EDC § 94170
Except as otherwise expressly provided in this chapter, any member, officer, agent or employee of the authority who is interested, either directly or indirectly, in any contract of another with the authority, or in the sale of any property, either real or personal, to the authori
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Education Code - EDC - EDC § 94180
Education Code - EDC - EDC § 94180
The State Controller and his legally authorized representatives are hereby authorized and empowered from time to time to examine the accounts and books of the authority, including its receipts, disbursements, contracts, sinking funds, investments and any other matters relating to
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Education Code - EDC - EDC § 94181
Education Code - EDC - EDC § 94181
The authority shall be entitled to call to its assistance and avail itself of the services of such employees of any state department or agency as it may require and as may be available to it for said purpose. The Attorney General shall be the legal counsel for the authority, but
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Education Code - EDC - EDC § 94190
Education Code - EDC - EDC § 94190
(a) In addition to the foregoing powers, the authority shall have power to accomplish both of the following: (1) Upon application of the participating college, participating nonprofit entity, or university applicant, to construct, acquire, or otherwise provide projects for the us
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Education Code - EDC - EDC § 94191
Education Code - EDC - EDC § 94191
The authority also shall have power: (a) To make loans to any participating private college, participating nonprofit entity, or university applicant for the acquisition or construction of projects in accordance with a loan agreement and in accordance with plans and specifications
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Education Code - EDC - EDC § 94192
Education Code - EDC - EDC § 94192
For the purpose of obtaining and securing loans under Section 94191, every participating private college, participating nonprofit entity, or university applicant shall, notwithstanding any other law, have power to mortgage and pledge any of its real or personal property, and to p
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Education Code - EDC - EDC § 94193
Education Code - EDC - EDC § 94193
Moneys of the authority received from any participating private college, participating nonprofit entity, or university applicant in payment of any sum due to the authority pursuant to the terms of any loan or other agreement or any bond, note, or other evidence of indebtedness, s
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Education Code - EDC - EDC § 94194
Education Code - EDC - EDC § 94194
(a) Whenever the authority under Section 94190 undertakes to construct, acquire, or otherwise provide a project and to lease the same to a private college or university applicant the lessee shall be responsible for the direct operation and maintenance costs of such project and, i
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Education Code - EDC - EDC § 94195
Education Code - EDC - EDC § 94195
Any pledge of moneys, earnings, income, or revenues authorized with respect to participating private colleges, participating nonprofit entities, or university applicants, pursuant to this chapter, shall be valid and binding from the time when the pledge is made. The moneys, earni
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Education Code - EDC - EDC § 94210
Education Code - EDC - EDC § 94210
This chapter, being necessary for the welfare of the state and its inhabitants, shall be liberally construed to effect the purposes hereof.
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Education Code - EDC - EDC § 94211
Education Code - EDC - EDC § 94211
Nothing contained in this chapter shall be deemed or construed to create or constitute a debt, liability, or a loan or pledge of the credit of the state.
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Education Code - EDC - EDC § 94212
Education Code - EDC - EDC § 94212
(a) This chapter shall be deemed to provide a complete, additional, and alternative method for doing the things authorized by this chapter, and shall be regarded as supplemental and additional to powers conferred by other laws. The issuance of bonds and refunding bonds under this
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Education Code - EDC - EDC § 94213
Education Code - EDC - EDC § 94213
The powers granted to the authority by this chapter may be exercised without regard or reference to any department or agency of the state. All other general or special laws, or parts thereof, inconsistent with this chapter are hereby declared to be inapplicable to the provisions
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Education Code - EDC - EDC § 94355
Education Code - EDC - EDC § 94355
(a) As a condition of doing business in this state, each postsecondary educational institution governed by Chapter 7 (commencing with Section 94700), and each organization that administers educational testing for use in the admissions process by any public or private postsecondar
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Education Code - EDC - EDC § 94367
Education Code - EDC - EDC § 94367
(a) No private postsecondary educational institution shall make or enforce a rule subjecting a student to disciplinary sanctions solely on the basis of conduct that is speech or other communication that, when engaged in outside the campus or facility of a private postsecondary in