Missouri § 173.110 - Department may guarantee student loans — subrogation — charges for guarantee — lender of last resort loans, origination — amount guaranteed, limit.
Full text of Missouri Revised Statutes of Missouri § 173.110 — Department may guarantee student loans — subrogation — charges for guarantee — lender of last resort loans, origination — amount guaranteed, limit., with citation guidance and answers to common questions.
§ 173.110. Department may guarantee student loans — subrogation — charges for guarantee — lender of last resort loans, origination — amount guaranteed, limit.
1. The department is authorized to issue certificates of guarantee covering student loans by eligible lenders which meet the requirements of sections 173.095 to 173.180 and the regulations of the board adopted hereunder to eligible borrowers, and to pay from the fund to an eligible lender the amount established by federal law in the event the student defaults. Upon payment of the loss the department shall be subrogated to all the rights of the eligible lender.
2. The department shall charge for each guaranteed loan a special loan insurance premium established by federal law which shall be paid to the department by the borrower. Amounts so received shall be used by the department to pay the costs of administering the program and to guarantee student loans.
3. The department is authorized to originate loans, including lender of last resort loans. All moneys to originate loans, including lender of last resort loans, shall be paid from a fund established for that purpose, including the lender of last resort revolving fund created under section 173.187.
4. The total outstanding guaranteed loans shall at no time exceed an amount which, according to sound actuarial judgment as determined by the state auditor, can be guaranteed by the fund.
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(L. 1967 1st Ex. Sess. p. 894 § 3, A.L. 1978 H.B. 891, A.L. 1981 H.B. 326, A.L. 1994 S.B. 583)
---- end of effective 28 Aug 1994 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 173.110
What does Revised Statutes of Missouri § 173.110 cover?
Section 173.110 ("Department may guarantee student loans — subrogation — charges for guarantee — lender of last resort loans, origination — amount guaranteed, limit.") is part of the Revised Statutes of Missouri, the codified statutory law of Missouri. 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 Missouri § 173.110?
A common citation format is "Revised Statutes of Missouri § 173.110" (Missouri). 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 Missouri law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Missouri official source linked on this page or consult a licensed Missouri attorney.
How does Missouri § 173.110 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Missouri 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 Missouri.