Texas Statutes (Last Updated: January 4, 2014) |
EDUCATION CODE |
Title 3. HIGHER EDUCATION |
Subtitle A. HIGHER EDUCATION IN GENERAL |
Chapter 52. STUDENT LOAN PROGRAM |
Subchapter D. GENERAL PROVISIONS |
Sec. 52.521. FILING OF CLAIMS ON LOANS IN DEFAULT
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(a) The board shall file a claim with the appropriate guarantor on an insured loan in default as soon as it is practicable to do so in accordance with the guarantor's rules.
(b) The board shall deposit funds obtained as a result of any claims, including claims filed on loans in default that have been litigated as provided under a contract with the United States Department of Education, filed with a guarantor in the Texas Opportunity Plan Fund or in the student loan auxiliary fund in the appropriate account to be used for making student loans.
Added by Acts 1989, 71st Leg., ch. 1084, Sec. 2.05, eff. Sept. 1, 1989. Amended by Acts 1991, 72nd Leg., 2nd C.S., ch. 5, Sec. 3.