Statutes > Iowa Statutes > Title 7 - Education and Cultural Affairs > Subtitle 3 - Higher Education > CHAPTER 261A - HIGHER EDUCATION LOAN AUTHORITY (PRIVATE INSTITUTIONS) > 261A.49 - BONDHOLDERS -- PLEDGE -- AGREEMENT OF THE STATE.

261A.49 - BONDHOLDERS -- PLEDGE -- AGREEMENT OF THE STATE.

        261A.49  BONDHOLDERS -- PLEDGE -- AGREEMENT OF THE
      STATE.
         The state pledges to and agrees with the holders of any
      obligations issued under this division, and with those parties who
      enter into contracts with the authority pursuant to this division,
      that the state will not limit or alter the rights vested in the
      authority until the obligations, together with the interest on the
      obligations, are fully met and discharged and the contracts are fully
      performed on the part of the authority, except that this section does
      not preclude the limitation or alteration if and when adequate
      provision is made by law for the protection of the rights of the
      holders of the obligations of the authority or those entering into
      contracts with the authority.
         Section History: Recent Form
         85 Acts, ch 210, §19