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§ 695.12. Repayments to Student Loan Sinking Fund

Oklahoma Statutes AnnotatedTitle 70. Schools

Oklahoma Statutes Annotated
Title 70. Schools (Refs & Annos)
Division III. Other School Laws
Chapter 8. Funds and Fiscal Affairs
Oklahoma Student Loan Act (Refs & Annos)
70 Okl.St.Ann. § 695.12
§ 695.12. Repayments to Student Loan Sinking Fund
All money received by the Oklahoma Student Loan Authority as repayment of student loans granted under the Oklahoma Student Loan Act and interest on the loans shall be credited to the “Student Loan Sinking Fund” of the Authority. The resolution authorizing the issuance of the bonds may provide for deposit from bond proceeds of not to exceed twenty-four (24) months' interest, and may provide for use of bond proceeds as a reserve for the payment of principal and interest on the bonds. The Authority shall pay or cause to be paid from the “Student Loan Sinking Fund” the principal and interest on the bonds as they mature and come due.

Credits

Laws 1972, c. 125, § 12, emerg. eff. April 6, 1972; Laws 1987, c. 81, § 7, operative July 1, 1987.
70 Okl. St. Ann. § 695.12, OK ST T. 70 § 695.12
Current with emergency effective legislation through Chapter 378 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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