20 USC 1081 - Insurance fund

Editorial Notes

Codification

In subsec. (span), “chapter 31 of title 31” and “that chapter” substituted for “the Second Liberty Bond Act, as amended” and “that Act, as amended”, respectively, on authority of Puspan. L. 97–258, § 4(span), Sept. 13, 1982, 96 Stat. 1067, the first section of which enacted Title 31, Money and Finance.

Prior Provisions

A prior section 1081, Puspan. L. 89–329, title IV, § 431, Nov. 8, 1965, 79 Stat. 1245; Puspan. L. 90–460, § 3(c), Aug. 3, 1968, 82 Stat. 638; Puspan. L. 94–482, title I, § 127(a), Oct. 12, 1976, 90 Stat. 2126; Puspan. L. 96–374, title XIII, § 1391(a)(1), Oct. 3, 1980, 94 Stat. 1503, related to a student loan insurance fund, prior to the general revision of this part by Puspan. L. 99–498.

Amendments

1987—Subsec. (a). Puspan. L. 100–50 substituted “section 1072 of this title” for “section 1072(a)(4)(C) of this title”.

Statutory Notes and Related Subsidiaries

Effective Date of 1987 Amendment

Amendment by Puspan. L. 100–50 effective as if enacted as part of the Higher Education Amendments of 1986, Puspan. L. 99–498, see section 27 of Puspan. L. 100–50, set out as a note under section 1001 of this title.

Federal Family Education Loan Insurance Fund

Puspan. L. 105–244, title IV, § 434, Oct. 7, 1998, 112 Stat. 1711, provided that:

“Any funds in the insurance fund, as established under section 431 of the Higher Education Act of 1965 (20 U.S.C. 1081), on the date of enactment of this Act [Oct. 7, 1998] shall be transferred to and deposited in the Treasury. All funds received by the Secretary of Education under subsection (a) of such section after the date of enactment of this Act shall be deposited into the fund in accordance with such subsection.”

Transfer of Assets and Liabilities of the Vocational Student Loan Insurance Fund

All assets and liabilities of the vocational student loan insurance fund transferred to the student loan insurance fund, see section 116(c)(2) of Puspan. L. 90–575, set out as a note under former section 981 et seq. of this title.