§ 16-57-9 - Loans to minors – Loan obligations.
SECTION 16-57-9
§ 16-57-9 Loans to minors – Loanobligations. – (a) Any person qualifying for an eligible loan shall not be disqualified toreceive a loan guaranteed by the authority by reason of his or her being aminor. For the purpose of applying for, securing, receiving, and repaying aloan, any person shall be deemed to have full legal capacity to act and shallhave all the rights, powers, privileges, and obligations of a person of fullage with respect to a loan.
(b) No loan obligation incurred by any individual under theprovisions of this chapter may be expunged, reduced, or discharged in anyproceeding, including any proceeding in federal bankruptcy court. Anyindividual receiving a loan under the provisions of this chapter shall berequired to sign an affidavit acknowledging the loan and agreeing to thiscondition.