Section 3366.05 | Issuing authority as eligible not-for-profit servicer of certain student loans.
The issuing authority, as an eligible not-for-profit holder of federal education loans, may act as an eligible not-for-profit servicer of certain student loans owned by the federal government under Section 2212 of the "Health Care and Education Reconciliation Act of 2010," Pub. L. No. 111-152. The issuing authority is authorized to take such actions and to enter into such contracts and to execute all instruments necessary or appropriate to act as an eligible not-for-profit servicer. Notwithstanding division (C) of section 3366.03 and division (B) of section 3366.04 of the Revised Code, revenues received by the issuing authority under this section shall be deposited in an account in the custody of the treasurer of state that is not part of the state treasury and shall be used to pay administrative costs incurred by the issuing authority. Unexpended amounts shall be deposited in the state treasury and credited, as determined by the treasurer of state, to the treasurer of state's administrative fund created under section 113.20 of the Revised Code or the treasurer's information technology reserve fund created under section 113.22 of the Revised Code.
Last updated September 6, 2023 at 2:41 PM
Available Versions of this Section
- September 10, 2012 – House Bill 487 - 129th General Assembly [ View September 10, 2012 Version ]
- October 3, 2023 – Amended by House Bill 33 - 135th General Assembly [ View October 3, 2023 Version ]