20-U.S.C.-1086

§1086 – Delegation of Functions

Pathway

Title 20 > Chapter 28 > Subchapter IV > Part B > Section 1086

Details

• Reference: Section 1086
• Legend: §1086 – Delegation of Functions
• USCode Year: 2013

Provision Content

(a) In general

An eligible lender or guaranty agency that contracts with another entity to perform any of the lenders or agencys functions under this subchapter and part C of subchapter I of chapter 34 of title 42, or otherwise delegates the performance of such functions to such other entity—

(1) shall not be relieved of the lenders or agencys duty to comply with the requirements of this subchapter and part C of subchapter I of chapter 34 of title 42; and

(2) shall monitor the activities of such other entity for compliance with such requirements.

(b) Special rule

A lender that holds a loan made under this part in the lenders 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.

(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.)

Prior Provisions

A prior section 1086, Pub. L. 89–329, title IV, §436, as added Pub. L. 89–752, §12, Nov. 3, 1966, 80 Stat. 1244; amended Pub. L. 90–575, title I, §116(b)(5), Oct. 16, 1968, 82 Stat. 1024; Pub. L. 94–482, title I, §127(a), Oct. 12, 1976, 90 Stat. 2132; Pub. L. 96–374, title XIII, §1391(a)(1), Oct. 3, 1980, 94 Stat. 1503, related to a District of Columbia student loan insurance program, prior to the general revision of this part by Pub. L. 99–498.

Amendments

1998—Pub. L. 105–244 amended section catchline and text generally. Prior to amendment, section authorized establishment of a District of Columbia student loan insurance program.

Effective Date of 1998 Amendment

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

U.S. Encyclopedia of Law Coverage

20-U.S.C.-1078-2 in the Legal Encyclopedia: Students

In this entry about 20-U.S.C.-1078-2, find legal reference material, bibliographies and premiere content related to students in the American Encyclopedia of Law, presenting a comprehensive view of the United States students-specific issues, written by authorities in the field.

20-U.S.C.-1082 in the Legal Encyclopedia: Student Assistance

In this entry about 20-U.S.C.-1082, find legal reference material, bibliographies and premiere content related to student assistance in the American Encyclopedia of Law, presenting a comprehensive view of the United States student assistance-specific issues, written by authorities in the field.

20-U.S.C.-1078-12 in the Legal Encyclopedia: Loans

In this entry about 20-U.S.C.-1078-12, find legal reference material, bibliographies and premiere content related to loans in the American Encyclopedia of Law, presenting a comprehensive view of the United States loans-specific issues, written by authorities in the field.

20-U.S.C.-1078-1 in the Legal Encyclopedia: Education

In this entry about 20-U.S.C.-1078-1, find legal reference material, bibliographies and premiere content related to education in the American Encyclopedia of Law, presenting a comprehensive view of the United States education-specific issues, written by authorities in the field.

Topic Map

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