SB 1142 - Graham, Chuck
Explicitly grants MOHELA the ability to sell assets, and specifies the manner in which proceeds from such assets may be utilized
Bill Details
Sponsor
LR Number
5334L.01I
Title
SB 1142
House Handler
N/A
Journal Page
Effective Date
August 28, 2006
Committee
Current Status
Second Read and Referred S Education Committee
Quick Links
Amendments
No amendments available
CURRENT BILL SUMMARY
SB 1142 - 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.
DONALD THALHUBER