TITLE 20 EDUCATION

Section 3. Postsecondary Education, 20-3-1 through 20-3-660.

ARTICLE 7 SCHOLARSHIPS, LOANS, AND GRANTS

20-3-281. Sale, pledge, or assignment of educational loans.

A lender may sell loans guaranteed by the corporation, or an interest in such loans, to another lender only in accordance with regulations of the corporation; and in such event the guaranty liability of the corporation on such loans or interests therein shall not be affected. A lender may pledge or assign loans guaranteed by the corporation, or an interest in such loans, as security to pledgees or assignees only in accordance with regulations of the corporation; and in such event the guaranty liability of the corporation on such loans or interests therein shall not be affected.

(Ga. L. 1970, p. 478, §§ 6, 7; Ga. L. 1973, p. 650, § 4; Code 1933, § 32-3323, enacted by Ga. L. 1980, p. 835, § 2.)