Bill Status of HB5767 94th General Assembly
Short Description: SALE OF ISAC LOANS PROHIBITED
Rep. Richard P. Myers - Chapin Rose
| 1/9/2007||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Governor's Office of Management and Budget Act and the Higher Education Student Assistance Act. Provides that the Illinois Student Assistance Commission may not sell its loans or the attendant loan origination and servicing rights nor may any other State agency, including the Governor's Office of Management and Budget, or a State official sell the loans or the attendant loan origination and servicing rights. Provides that all student loans of the Commission and the attendant loan origination and servicing rights are inalienable and must remain as assets of the Commission. Effective immediately.