Georgia § 20-3-395 - 2. Separate fund for loans; fees.
Full text of Georgia Official Code of Georgia Annotated § 20-3-395 — 2. Separate fund for loans; fees., with citation guidance and answers to common questions.
§ 20-3-395. 2. Separate fund for loans; fees.
The authority shall establish and maintain a separate fund for loans in accordance with this subpart to which shall be credited: State funds appropriated for use for loans under this subpart; Moneys received by gift, donation, or otherwise for loans under this subpart; Outstanding educational loans held by the authority under this subpart; and Principal and interest collected on educational loans held by the authority under this subpart. Beginning with the first fiscal year following the fiscal year in which the fund has a balance of $500,000.00 or more, for each fiscal year, the authority shall determine the amount of moneys available for loans under this subpart and shall determine the applicants who are eligible to receive such loans. The authority shall determine which eligible applicants receive loans by a random selection process in which each eligible applicant has an equal chance of being selected for a loan. The authority shall be entitled to establish a reasonable fee for the processing and collecting of loans made under this subpart. Such fee shall be established by the authority by rule or regulation. (Code 1981, § 20-3-395.2 , enacted by Ga. L. 2008, p. 626, § 2/SB 169.)
Source: official Georgia text · Last verified 2026-08-27
Frequently Asked Questions About Georgia § 20-3-395
What does Official Code of Georgia Annotated § 20-3-395 cover?
Section 20-3-395 ("2. Separate fund for loans; fees.") is part of the Official Code of Georgia Annotated, the codified statutory law of Georgia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Georgia § 20-3-395?
A common citation format is "Official Code of Georgia Annotated § 20-3-395" (Georgia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Georgia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Georgia official source linked on this page or consult a licensed Georgia attorney.
How does Georgia § 20-3-395 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Georgia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Georgia.