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GA HB1008
Bill
Status
Introduced
2/17/2014
Primary Sponsor
Amy Carter
Click for details
AI Summary
- Georgia Student Finance Commission is granted explicit authority to solicit, receive, and accept funds from public or private sources by gift, grant, bequest, or otherwise, and to acquire, hold, and dispose of real, personal, or mixed property for commission purposes
- Board of directors composition for both the Georgia Higher Education Assistance Corporation and the Georgia Student Finance Authority is revised by removing the fixed 13-member requirement, instead tying membership to whoever is currently serving on the commission's board of commissioners
- Georgia Student Finance Authority receives the same expanded power to solicit, receive, and accept funds and property from any public or private source for its corporate purposes
- Georgia Student Finance Authority is granted new authority to incorporate one or more nonprofit corporations under the Georgia Nonprofit Corporation Code to aid in carrying out its powers, duties, and functions
- Upon dissolution of any such nonprofit corporation, assets revert to the authority, its successor, or the State of Georgia; the authority is not liable for the debts, obligations, bonds, or actions of any created nonprofit unless it consents
Legislative Description
Georgia Student Finance Commission; revise powers and duties
Last Action
House Committee Favorably Reported
2/26/2014
Full Bill Text
No bill text available