§ 16-33B-1 Definitions
§ 16-33B-2 Legislative findings and purposes
§ 16-33B-3 Administration of program
§ 16-33B-4 Basic powers and duties of the Alabama Commission on Higher Education for the Alabama Guaranteed Student Loan Program
§ 16-33B-5 Audit of approved and eligible institutions
§ 16-33B-6 False statements or misrepresentations
§ 16-33B-7 Dissolution of program; vesting of property
§ 16-33B-8 Legal counsel for program

Terms Used In Alabama Code > Title 16 > Chapter 33B

  • ache: The Alabama Commission on Higher Education. See Alabama Code 45-22-242.08
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • APPROVED LENDER: Any eligible institution, or any bank, trust company, savings and loan association, credit union, pension fund, or insurance company, whose primary consumer credit function is not the making of insured student loans and which is examined and supervised by the appropriate state or federal regulatory agency or any other institution or agency defined as an eligible lender in accordance with the Federal Student Loan Law. See Alabama Code 45-22-242.08
  • authority: The public corporation organized pursuant to this chapter, which shall be an agency of the state but shall not be a political subdivision of the state. See Alabama Code 45-22-242.04
  • AUTHORIZING COUNTY: Any county the governing body of which shall have adopted an authorizing resolution, even if the population of the county should fall below 600,000. See Alabama Code 45-22-242.04
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • board: The Board of Directors of an authority. See Alabama Code 45-22-242.04
  • bonds: Bonds, notes, warrants, certificates, and other obligations representing an obligation to pay money. See Alabama Code 45-22-242.04
  • county: Any county in the state. See Alabama Code 45-22-242.04
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Devise: To gift property by will.
  • director: A member of the board. See Alabama Code 45-22-242.04
  • ELIGIBLE INSTITUTION: Any postsecondary educational institution which is approved by the Alabama Commission on Higher Education for the purposes of this program. See Alabama Code 45-22-242.08
  • FEDERAL STUDENT LOAN LAW: Title IV of the Federal Higher Education Act of 1965, as amended (enacted by the Congress of the United States of America as Public Law 89-239) providing for a student loan insurance or guaranty program, as said Title IV (presently codified as 20 U. See Alabama Code 45-22-242.08
  • FISCAL YEAR: The 12-month period provided for in subsection (c) of Section 11-32-7. See Alabama Code 45-22-242.04
  • Forbearance: A means of handling a delinquent loan. A
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • GOVERNING BODY: With respect to a county, its county commissioners, board of revenue, or other like governing body and with respect to a municipality, its city or town council, board of commissioners, or other like governing body. See Alabama Code 45-22-242.04
  • Impeachment: (1) The process of calling something into question, as in "impeaching the testimony of a witness." (2) The constitutional process whereby the House of Representatives may "impeach" (accuse of misconduct) high officers of the federal government for trial in the Senate.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • METROPOLITAN PLANNING ORGANIZATION: The forum for cooperative transportation decision making for a metropolitan planning area pursuant to 23 U. See Alabama Code 45-22-242.04
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • municipality: An incorporated city or town of this state. See Alabama Code 45-22-242.04
  • paratransit: Comparable transportation service required by the Americans with Disabilities Act for individuals who are unable to use fixed route transportation systems. See Alabama Code 45-22-242.04
  • PARTICIPATING MUNICIPALITY: A municipality in an authorizing county, other than the principal municipality, which is then providing funds for the authority, pursuant to resolution, contract, or otherwise. See Alabama Code 45-22-242.04
  • person: Unless limited to a natural person by the context in which it is used, includes a public or private corporation, municipality, county, or an agency, department, or instrumentality of the state or of a county or municipality. See Alabama Code 45-22-242.04
  • personal property: includes money, goods, chattels, things in action and evidence of debt, deeds and conveyances. See Alabama Code 30-3D-608
  • Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
  • PRINCIPAL MUNICIPALITY: The municipality in an authorizing county having the largest population in the authorizing county according to the last or any subsequent federal decennial census. See Alabama Code 45-22-242.04
  • Probate: Proving a will
  • property: Real and personal property, and any and all interests in the real and personal property. See Alabama Code 45-22-242.04
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • PUBLIC TRANSPORTATION SERVICE: All service involved in the transportation of passengers for hire by means of buses, street railway, elevated railway, subway, underground railroad, light rail, mass transit systems, motor vehicles, or other means of conveyance generally associated with or developed for mass surface or sub-surface transportation of the public, but does not include any service involved in transportation by taxicab, airport limousine, or industrial bus; however, public transportation service does not include aircraft or any air service subject to the Air Carrier Access Act of 1986 or managed by an airport authority of the principal municipality. See Alabama Code 45-22-242.04
  • real property: includes lands, tenements and hereditaments. See Alabama Code 30-3D-608
  • REGIONAL PLANNING COMMISSION: The regional organization representing governing bodies of local governments under Act 584 of the 1963 Regular Session (Acts 1963, p. See Alabama Code 45-22-242.04
  • state: The State of Alabama. See Alabama Code 45-22-242.04
  • STUDENT LOAN: A loan or extension of credit to an eligible borrower (including without limitation a parent of an eligible borrower) including the promissory note or other written agreement or instrument evidencing such loan or extension of credit in accordance with the applicable requirements of the Federal Student Loan Law. See Alabama Code 45-22-242.08
  • tcab: The transit citizens advisory board established herein. See Alabama Code 45-22-242.04
  • TRANSIT SYSTEM: Land, plants, systems, facilities, buildings, garages, vehicles of all types, rails, lines, and any combination of any of the following, used or useful or capable of future use in furnishing public transportation service, and all other property deemed necessary or desirable by an authority for use in furnishing public transportation service. See Alabama Code 45-22-242.04
  • Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.