ARTICLE 2.4. Maximizing the Value of the State Student Loan Guarantee Program Assets and Liabilities

Article 2.4 added by Stats. 2007, Ch. 182, Sec. 1.

§§ 69521–69521.11 · 11 sections

§ 69521 (a) The Legislature finds and declares both of the following: (1) The student loan guarantee business is not a core mission of government. Recognition of this…
§ 69521.2 For the purposes of this article, all of the following definitions apply: (a) “Auxiliary organization” means the organization established pursuant to Article…
§ 69521.3 (a) The Director of Finance is hereby authorized to act as agent for the state and, in that capacity, to sell the state student loan guarantee program assets…
§ 69521.4 (a) If, after seeking the advice of, and in active participation with, the Treasurer, the Director of Finance determines that an alternative arrangement to the…
§ 69521.5 (a) The Director of Finance is authorized to take all actions that he or she deems to be necessary or convenient to accomplish any of the following: (1) To…
§ 69521.6 Notwithstanding any other provision of law, neither the approval of the Attorney General nor of the Director of General Services is required for the execution…
§ 69521.7 The state student loan guarantee program assets and liabilities shall be transferred to the transferee guarantee agency upon the completion of any sale…
§ 69521.8 (a) The Director of Finance shall deposit all proceeds of any sale of, or any funds achieved through any other arrangement to maximize the value of, the state…
§ 69521.9 (a) Notwithstanding any other provision of law, the Director of Finance is authorized to enter into an agreement with a firm or individual to act as an advisor…
§ 69521.10 (a) The Director of Finance, in consultation with the Treasurer, shall select a firm or individual to provide advisory services based on demonstrated…
§ 69521.11 (a) The Director of Finance shall notify the Joint Legislative Budget Committee in writing upon his or her determination that neither the sale nor any other…