136A.1785 LOAN CAPITAL FUND.
The office may deposit and hold assets derived from the operation of its student loan
programs authorized by this chapter in a fund known as the loan capital fund. Assets in the loan
capital fund are available to the office solely for carrying out the purposes and terms of sections
, including, but not limited to, making student loans authorized by this
chapter, paying administrative expenses associated with the operation of its student loan programs,
repurchasing defaulted student loans, and paying expenses in connection with the issuance of
revenue bonds authorized under this chapter. Assets in the loan capital fund may be invested as
provided in sections
136A.16, subdivision 8
. All interest and earnings from the
investment of the loan capital fund inure to the benefit of the fund and are deposited into the fund.
History: 2005 c 107 art 2 s 28