20 U.S.C. § 1086 — Delegation of functions
submitted 40 years ago by Pub. L. 89-329 to r/title-20-EDUCATION · 114 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
An eligible lender or guaranty agency that contracts with another entity to perform any of the lender’s or agency’s functions under this subchapter, or otherwise delegates the performance of such functions to such other entity—
shall not be relieved of the lender’s or agency’s duty to comply with the requirements of this subchapter; and
shall monitor the activities of such other entity for compliance with such requirements.
A lender that holds a loan made under this part in the lender’s capacity as a trustee is responsible for complying with all statutory and regulatory requirements imposed on any other holder of a loan made under this part.
Source credit: (Pub. L. 89–329, title IV, § 436, as added Pub. L. 99–498, title IV, § 402(a), Oct. 17, 1986, 100 Stat. 1413; amended Pub. L. 105–244, title IV, § 430, Oct. 7, 1998, 112 Stat. 1709.)
- 1986Enacted · Pub. L. 89-329 · 100 Stat. 1413
- 1998Amended · Pub. L. 105-244 · 112 Stat. 1709
A history note hasn’t been published yet. The record shows enactment by Pub. L. 89-329 on 1986-10-17.
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