C.R.S. Section 23-3.1-104.5
Additional powers of division


(1)

The division is hereby authorized to make, originate, disburse, or service student loans directly to residents. “Resident” for the purpose of this section means any person attending an institution of higher education in Colorado, or any person attending an institution of higher education outside Colorado who would qualify for Colorado in-state tuition status under article 7 of this title. In order to obtain funds to make, originate, disburse, or service such student loans, the division is authorized to borrow or enter into other types of agreements with any person, corporation, financial institution, state or federal authority, political subdivision, or state or federal government agency for the advancement of funds for such purposes, so long as such student loans are insured against default.

(1.5)

Repealed.

(2)

Any agreement made by the division to repay funds borrowed from any person, corporation, financial institution, state or federal authority, political subdivision, or state or federal government agency shall not constitute or become an indebtedness, a debt, or a liability of the state or constitute the giving, pledging, or loaning of the full faith and credit of the state. Repayment of such borrowed funds shall be made solely from funds received from proceeds or earnings derived from the funds borrowed, from borrowers and insurers, or from federal payments, and the state shall have no liability with respect to such an agreement.

(3)

The division is hereby authorized to issue revenue bonds after approval by both houses of the general assembly either by bill or by joint resolution and after approval by the governor in accordance with section 39 of article V of the state constitution.

Source: Section 23-3.1-104.5 — Additional powers of division, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-23.­pdf (accessed Oct. 20, 2023).

23‑3.1‑101
Legislative declaration
23‑3.1‑102
Definitions
23‑3.1‑103
Division created - director - staff
23‑3.1‑103.5
Enterprise status of division
23‑3.1‑104
Duties and powers of division - rules
23‑3.1‑104.5
Additional powers of division
23‑3.1‑104.7
Restructuring plan - legislative declaration
23‑3.1‑106
Student loan program established
23‑3.1‑106.5
Special funds
23‑3.1‑107
Student loan guarantee fund - created
23‑3.1‑108
Age qualification
23‑3.1‑109
Subject to audit
23‑3.1‑110
Designation as sole state agency
23‑3.1‑111
Authority of division to enter into agreements to provide administrative and guarantee services
23‑3.1‑112
Authority and power of the division to guarantee, originate, service, make, and purchase consolidation loans and refinancing loans
23‑3.1‑201
Legislative declaration
23‑3.1‑202
Definitions
23‑3.1‑203
Authority - creation - membership - transfer of personnel
23‑3.1‑204
Organizational meeting - chairperson - conflict of interest
23‑3.1‑205
Meetings of board - quorum - expenses
23‑3.1‑205.3
Transfer of property
23‑3.1‑205.4
Collegeinvest fund - creation - control - use
23‑3.1‑205.5
Collegeinvest - enterprise status
23‑3.1‑205.7
Department of higher education - executive director - powers and duties
23‑3.1‑206
General powers and duties of the authority
23‑3.1‑206.5
Servicing of student obligations and institutional loans
23‑3.1‑206.7
Prepaid expense program
23‑3.1‑206.9
Colorado collegeinvest scholarship program - administration - fund - policies
23‑3.1‑207
Notes
23‑3.1‑208
Bonds
23‑3.1‑209
Negotiability of bonds
23‑3.1‑210
Security for bonds and notes
23‑3.1‑211
Personal liability
23‑3.1‑212
Purchase
23‑3.1‑213
Payment of bonds and advance payment contracts - limited liability of state
23‑3.1‑214
Exemption from taxation - securities law
23‑3.1‑215
Fees
23‑3.1‑216
Investment of funds
23‑3.1‑217
Proceeds as trust funds
23‑3.1‑217.5
Claims of creditors - exemption
23‑3.1‑218
Agreement of the state not to limit or alter rights of obligees
23‑3.1‑219
Enforcement of rights of bondholders
23‑3.1‑220
Bonds eligible for investment
23‑3.1‑221
Account of activities - receipts for expenditures - report - audit
23‑3.1‑222
Federal social security act
23‑3.1‑223
Powers of authority not restricted
23‑3.1‑224
Contract powers of state-supported institutions of higher education - nonliability of state
23‑3.1‑225
Confidentiality of records
23‑3.1‑226
Policies for promotion and disclosure of program information
23‑3.1‑301
Legislative declaration
23‑3.1‑302
Definitions
23‑3.1‑303
Department - purpose - powers - duties
23‑3.1‑304
Authority - purpose - powers - duties
23‑3.1‑305
Financial institutions - managers - purpose - selection - requirements - contracts
23‑3.1‑306
Accounts - contributions - withdrawals - penalties - statements
23‑3.1‑306.5
College kickstarter account program - funding - administration - financial literacy course - rules - legislative declaration - definitions
23‑3.1‑307
Limitations
23‑3.1‑307.1
Personal liability
23‑3.1‑307.3
Proceeds as trust funds
23‑3.1‑307.4
Claims of creditors - exemption
23‑3.1‑307.5
Confidentiality of records
23‑3.1‑307.9
Policies for promotion and disclosure of program information
23‑3.1‑308
Residency
23‑3.1‑309
Tax exemption
23‑3.1‑311
Achieving a better life experience (ABLE) savings program - establishment - authority - powers - duties
Green check means up to date. Up to date

Current through Fall 2024

§ 23-3.1-104.5’s source at colorado​.gov