Iowa Code 261A.5 – Creation as public instrumentality
Current as of: 2023 | Check for updates
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Terms Used In Iowa Code 261A.5
- Authority: means the Iowa higher education loan authority created by this chapter, and "members of the authority" means those persons appointed to the authority pursuant to section 261A. See Iowa Code 261A.4
- Commission: means the college student aid commission created pursuant to section 261. See Iowa Code 261B.2
- Loan: means a deposit of property not accompanied by a transfer of title to the property. See Iowa Code 305B.2
- Student: means a person who enrolls in or seeks to enroll in a course of instruction offered or conducted by a school. See Iowa Code 261B.2
The Iowa higher education loan authority is created as a body politic and corporate. The authority is a public instrumentality and the exercise by the authority of the powers conferred by this chapter is the performance of an essential public function. The authority is attached to the college student aid commission for administrative purposes.