20 USC 1072 - Advances for reserve funds of State and nonprofit private loan insurance programs

Editorial Notes

Codification

Amendment by Puspan. L. 103–208 (which was effective as if included in Puspan. L. 102–325) was executed to this section as amended by Puspan. L. 102–325 and Puspan. L. 103–66, to reflect the probable intent of Congress.

Prior Provisions

A prior section 1072, Puspan. L. 89–329, title IV, § 422, Nov. 8, 1965, 79 Stat. 1236; Puspan. L. 89–752, § 11, Nov. 3, 1966, 80 Stat. 1243; Puspan. L. 90–575, title I, § 114(span), (c), Oct. 16, 1968, 82 Stat. 1021, 1022; Puspan. L. 94–482, title I, § 127(a), Oct. 12, 1976, 90 Stat. 2100; Puspan. L. 95–43, § 1(a)(11)–(13), June 15, 1977, 91 Stat. 213, 214; Puspan. L. 95–561, title XIII, § 1322(a), Nov. 1, 1978, 92 Stat. 2363; Puspan. L. 96–374, title XIII, § 1391(a)(1), Oct. 3, 1980, 94 Stat. 1503; Puspan. L. 99–272, title XVI, § 16011, Apr. 7, 1986, 100 Stat. 339, authorized advances to establish or strengthen reserve funds of State and nonprofit private loan insurance programs, prior to the general revision of this part by Puspan. L. 99–498.

Amendments

1998—Subsec. (a)(2). Puspan. L. 105–244, § 412(1), substituted “section 1078(c)(9)(E)” for “section 1078(c)(10)(E)” in concluding provisions.

Subsec. (c)(6)(B)(i). Puspan. L. 105–244, § 412(2)(A), substituted “written, electronic,” for “written”.

Subsec. (c)(7)(A). Puspan. L. 105–244, § 412(2)(B), struck out “during the transition from the Federal Family Education Loan Program under this part to the Federal Direct Student Loan Program under part D of this subchapter” after “lender-of-last-resort”.

Subsec. (c)(7)(B). Puspan. L. 105–244, § 412(2)(C), substituted “section 1078(c)(9)(F)(v)” for “section 1078(c)(10)(F)(v)”.

Subsec. (g)(1). Puspan. L. 105–244, § 412(3), struck out “or the program authorized by part D of this subchapter” after “program authorized by this part” in first and second sentences.

Subsec. (i). Puspan. L. 105–244, § 412(4), added subsec. (i).

1997—Subsec. (h). Puspan. L. 105–33 added subsec. (h).

1993—Subsec. (c)(7). Puspan. L. 103–66, § 4041(a)(2)(A), substituted “to a guaranty agency—” and subpars. (A) and (B) for “to a guaranty agency in accordance with section 1078(c)(10)(F)(v) of this title in order to assist the agency in meeting its immediate cash needs and ensure the uninterrupted payment of default claims by lenders.”

Subsec. (c)(7)(B). Puspan. L. 103–208 substituted a period for semicolon at end. See Codification note above.

Subsec. (g). Puspan. L. 103–66, § 4042, added subsec. (g).

1992—Subsec. (a)(2). Puspan. L. 102–325, § 412(1), inserted at end “Except as provided in section 1078(c)(10)(E) or (F) of this title, such unencumbered non-Federal portion shall not be subject to recall, repayment, or recovery by the Secretary.”

Subsec. (c)(5), (7). Puspan. L. 102–325, § 416(p)(8), substituted “Except as provided in paragraph (7), advances” for “Advances” in par. (5) and added par. (7).

Subsecs. (e), (f). Puspan. L. 102–325, § 412(2), added subsecs. (e) and (f).

1987—Subsec. (e). Puspan. L. 100–203, § 3002(a), struck out subsec. (e) which related to reduction of excess cash reserves.

Puspan. L. 100–203, § 3001(a), added subsec. (e).

Statutory Notes and Related Subsidiaries

Effective Date of 1998 Amendment

Amendment by Puspan. L. 105–244 effective Oct. 1, 1998, except as otherwise provided in Puspan. L. 105–244, see section 3 of Puspan. L. 105–244, set out as a note under section 1001 of this title.

Effective Date of 1993 Amendment

Amendment by Puspan. L. 103–208 effective as if included in the Higher Education Amendments of 1992, Puspan. L. 102–325, except as otherwise provided, see section 5(a) of Puspan. L. 103–208, set out as a note under section 1051 of this title.

Effective Date of 1987 Amendment

Puspan. L. 100–203, title III, § 3002(a), Dec. 22, 1987, 101 Stat. 1330–38, provided that the amendment made by that section is effective Sept. 30, 1989.