16-33B-4
Loan Law. No obligation of ACHE for purposes of the loan program or for losses on student loans
resulting from death, default, bankruptcy, or total or permanent disability of the student
borrowers shall ever (i) create an obligation or a debt of the State of Alabama or any agency
or political subdivision thereof other than ACHE or a charge against the credit or taxing
powers of the state or any agency or political subdivision thereof other than ACHE, or (ii)
create or give rise to any personal liability of any of the commissioners or officers
of ACHE, but shall be payable solely from the ACHE "Student Loan Program Fund".
(13) To enter into contracts, agreements or covenants with, to accept aid, loans and grants
from, to cooperate with, to make loan servicing arrangements and other management arrangements
with, and to do any and all things not specifically prohibited by this chapter or other applicable
laws of the state that may be necessary in order for ACHE to avail itself of...
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16-33B-8
Section 16-33B-8 Legal counsel for program. The Attorney General or his agent shall act as
legal counsel to ACHE for the Alabama Guaranteed Student Loan Program. When the collection
of loans on which ACHE has met its guarantee obligation requires legal action outside the
State of Alabama, ACHE, upon recommendation of the Attorney General, may employ private, out-of-state
counsel and expend its own funds to pay for this service. (Acts 1980, No. 80-733, p. 1484,
§8.)...
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16-33B-1
Section 16-33B-1 Definitions. As used in this chapter, unless the context clearly requires
a different meaning, the following words shall have the following meanings: (1) ACHE. The
Alabama Commission on Higher Education. (2) APPROVED LENDER. Any eligible institution, or
any bank, trust company, savings and loan association, credit union, pension fund, or insurance
company, whose primary consumer credit function is not the making of insured student loans
and which is examined and supervised by the appropriate state or federal regulatory agency
or any other institution or agency defined as an eligible lender in accordance with the Federal
Student Loan Law. (3) ELIGIBLE INSTITUTION. Any postsecondary educational institution which
is approved by the Alabama Commission on Higher Education for the purposes of this program.
However, an institution offering exclusively correspondence, independent study, or home study
courses is not an eligible institution. (4) FEDERAL STUDENT LOAN LAW. Title...
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16-23-24
Section 16-23-24 Teacher Education Scholarship Loan Program established; use; subsequent obligations;
funding; rule-making authority; provisions for current scholarship recipients. (a) Effective
October 1, 1993, there is established a Teacher Education Scholarship Loan Program (hereinafter
referred to as "the program") to provide for the education of certified, employed
public school teachers to be trained in the use of integrating technology skills in the curriculum.
First priority shall be given to those certified public school teachers in the fields of English,
science, mathematics, and social science and history and those who teach pupils in kindergarten
to grade six, inclusive. Twenty-five percent of the funds available through this program shall
be targeted for minority teachers. When moneys are available for scholarship loans for teachers
above and beyond the first priority group, the State Board of Education shall designate other
critical needs areas for scholarship loans. (b)...
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22-30F-3
Section 22-30F-3 Definitions. The following words and phrases, whenever used in this chapter,
shall have the following respective meanings unless the context clearly indicates otherwise:
(1) AUTHORITY. The corporation organized pursuant to this chapter as a public corporation,
agency, and instrumentality of the state and known as the "Alabama Land Recycling Finance
Authority." (2) AUTHORIZING RESOLUTION. A resolution, order, or other proceedings adopted
by the board of directors of the authority authorizing the issuance of agreements and related
matters. (3) BOARD OF DIRECTORS. The board of directors of the authority. (4) DEPARTMENT.
The Alabama Department of Environmental Management or any successor. (5) ELIGIBLE PROPERTY.
Property which qualifies under Section 22-30E-6 for participation in the voluntary cleanup
program established pursuant to Chapter 30E of this title, and which is owned and operated
by an applicant or applicants which qualifies for the limitation of liability as...
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11-81-21
Section 11-81-21 Investment of funds obligation in which sinking funds may be invested. Any
municipal funds or county funds not presently needed for other purposes may be invested in
any obligations in which sinking funds are now authorized to be invested, pursuant to Section
11-81-19, and in addition in any of the following: (1) Direct obligations of (including obligations
issued or held in book entry form on the books of) the Department of the Treasury of the United
States of America; (2) Obligations of any of the following federal agencies, which obligations
represent the full faith and credit of the United States of America: a. Farmers Home Administration.
b. General Services Administration. c. U. S. Maritime Administration. d. Small Business Administration.
e. Government National Mortgage Association (GNMA). f. U. S. Department of Housing and Urban
Development (HUD). g. Federal Housing Administration (FHA). (3) U. S. dollar denominated deposit
accounts and certificates of deposit...
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16-33B-3
Section 16-33B-3 Administration of program. The Alabama Guaranteed Student Loan Program created
under this chapter shall be administered by the Alabama Commission on Higher Education. The
Executive Director of the Alabama Commission on Higher Education shall have the primary responsibility
for the administration of the program, including appropriate staffing, in accordance with
the Federal Student Loan Law, and rules, regulations, policies, and procedures to be promulgated
by the Alabama Commission on Higher Education. (Acts 1980, No. 80-733, p. 1484, §3; Acts
1988, 1st Ex. Sess., No. 88-866, p. 366, §1.)...
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40-18-100
Section 40-18-100 Definitions. For the purposes of this article, the following terms shall
have the following meanings: (1) CLAIMANT AGENCY. Any of the following: a. The Alabama Commission
on Higher Education with respect to the collection of debts under either of the following:
1. The Alabama Student Grant Program provided for by Chapter 33A of Title 16. 2. The Alabama
Guaranteed Student Loan Program provided for by Chapter 33B of Title 16. b. The Alabama Department
of Human Resources with respect to the collection of debts and money owed under any and all
of its public assistance programs and other programs administered by that department, including
support programs administered pursuant to the requirements of Title IV-D of the Social Security
Act. c. The Alabama Medicaid Agency with respect to the collection of debts and money owed
under any and all of the programs it administers. d. The Alabama Department of Labor with
respect to the collection or recovery, or both, of debts owed...
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16-33B-2
Section 16-33B-2 Legislative findings and purposes. The Legislature declares that there exists
within the State of Alabama a lack of sufficient availability of loans to residents of Alabama
who choose to attend a postsecondary educational institution and who have a financial need
in order to pay a portion or all of such residents' educationally related expenses at the
postsecondary educational institution. This chapter establishes a guaranteed student loan
program which is intended to provide increased access to educational loans for Alabama residents.
(Acts 1980, No. 80-733, p. 1484, §2.)...
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16-5-55
Section 16-5-55 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION,
EFFECTIVE JULY 1, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) The program shall
be used to provide a loan repayment for federal student loans in the following amounts: (1)
Five thousand dollars ($5,000) per year, or two thousand five hundred dollars ($2,500) per
semester worked, for a maximum of four consecutive years for a teacher with a valid Alabama
professional educator certificate endorsed in secondary math or science who graduated from
a teacher education program at an approved institution after the 2018 spring semester term
and is teaching in an Alabama public school. (2) An additional two thousand five hundred dollars
($2,500) per year, or one thousand two hundred fifty dollars ($1,250) per semester worked,
for a maximum of four consecutive years for a teacher who satisfies all criteria listed in
Section 16-5-54 and who also is teaching math or science in a public school in...
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