Statutes > Iowa Statutes > Title 7 - Education and Cultural Affairs > Subtitle 3 - Higher Education > CHAPTER 261 - COLLEGE STUDENT AID COMMISSION > 261.41 - ACCOUNT DISSOLVED -- BALANCE TO GENERAL FUND.

261.41 - ACCOUNT DISSOLVED -- BALANCE TO GENERAL FUND.

        261.41  ACCOUNT DISSOLVED -- BALANCE TO GENERAL
      FUND.
         The loan program and the loan reserve account established by this
      division shall not be dissolved until all guaranteed loans have been
      repaid by the borrower or, if in default, by the commission.  Upon
      dissolution of the loan program, all the property and moneys of the
      program and in the loan reserve account not owed to the federal
      government shall be transferred to the state general fund.
         Section History: Early Form
         [C79, 81, § 261.41]