North Dakota Code 6-09-48 – Funds received in relation to federal student loan program – Administration – Continuing appropriation
Current as of: 2023 | Check for updates
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1. The Bank of North Dakota shall administer and manage the funds received in relation to the federal student loan program under section 2212 of the Health Care and Education Reconciliation Act of 2010 [Pub. L. 111-152].
Terms Used In North Dakota Code 6-09-48
- Bank: means any national bank, national banking association, corporation, state bank, state banking association, or savings bank, whether organized under the laws of this state or of the United States, engaged in the business of banking. See North Dakota Code 6-01-02
2. The funds must be used to support the functions of the Bank related to the educational mission of the Bank.
3. The funds received by the Bank under subsection 1 are appropriated on a continuing basis to be used as provided in this section.
4. These funds are not subject to section 54-44.1-11.