SB 228 Explicitly grants the Missouri Higher Education Loan authority (MOHELA) the ability to sell or liquidate any asset of the authority
Sponsor: Graham
LR Number: 1122S.01I Fiscal Note:
Committee: Education
Last Action: 1/18/2007 - Second Read and Referred S Education Committee Journal Page: S121
Title: Calendar Position:
Effective Date: August 28, 2007

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Current Bill Summary


SB 228 - This act explicitly grants the Missouri Higher Education Loan Authority (MOHELA) the ability to sell or liquidate any asset of the authority. The term "asset" is defined in the act. The act specifies that proceeds from such assets shall be either utilized to carry out the purposes of the authority or be deposited into a fund, newly created by the act. Moneys in the fund shall be only utilized for purposes specified in the act, including the funding of student loans, scholarships, endowed professorships, and capital projects. The act stipulates that proceeds of the authority shall not be utilized for the payment of debts.

This act is identical to SB 1142 from 2006.

JIM ERTLE