Sec. 10a-228. Conveyance of title to participating institutions.
Sec. 10a-228. Conveyance of title to participating institutions. When the principal of, interest on and premium, if any, due in connection with bonds of the authority
issued to finance the cost of an education loan financing program or programs, including
any refunding bonds issued to refund and refinance such bonds, have been fully paid
and retired or when adequate provision has been made to fully pay and retire the same,
and all other conditions of the bond resolution authorizing the same have been satisfied
and the security interest or lien created by such bond resolution has been released in
accordance with the provisions thereof, the authority shall promptly execute such deeds
and conveyances as are necessary and required to convey any remaining moneys, properties and other assets comprising loan funding deposits to the participating institutions
for higher education which furnished the same in proportion to the amounts furnished
by the respective participating institutions for higher education.
(P.A. 82-313, S. 8, 28.)