§ 1086. Delegation of functions

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1986

   Higher Education Act of 1965

   Pub. L. 89–329 title IV § 436 · 79 Stat. 1219

   Enacted · 20 U.S.C. § 1086

   Pub. L. 89–329, title IV, § 436, as added Pub. L. 99–498, title IV, § 402(a), Oct. 17, 1986, 100 Stat. 1413

   Source evidence

   Code source credit
   Pub. L. 89–329, title IV, § 436, as added Pub. L. 99–498, title IV, § 402(a), Oct. 17, 1986, 100 Stat. 1413

2. 1998

   Higher Education Amendments of 1998

   Pub. L. 105–244 title IV § 430 · 112 Stat. 1581

   Amended · 20 U.S.C. § 1086

   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

   Source evidence

   Code amendment note
   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.

   Enacted provision · exact public law section
   SEC. 430. DELEGATION OF FUNCTIONS. Section 436 (20 U.S.C. 1086) is amended to read as follows: “SEC. 436. DELEGATION OF FUNCTIONS. “(a) In General.— An eligible lender or guaranty agency that contracts with another entity to perform any of the lender’s or agency’s functions under this title, or otherwise delegates the performance of such functions to such other entity— “(1) shall not be relieved of the lenders or agency’s duty to comply with the requirements of this title; 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 part B in the lender’s 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.”.

   Effective date note
   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.

1 of 2 references resolved to an enrolled provision · 1 partial