§ 35-12-6

In addition to the powers enumerated in § 35-12-5, the corporation shall have power to: (1) Purchase accounts from the university for such consideration and upon such terms and conditions as the corporation shall determine; (2) Pledge purchased accounts as security for any borrowings undertaken by the corporation or sell the accounts for such consideration and on such terms and conditions as the corporation shall determine; (3) Borrow money and issue notes and provide for the rights of the holders thereof, and secure the notes by assignment, pledge, or granting of a security interest in accounts, including, without limitation, all or a part of its interest in accounts for the purpose of providing funds to effectuate its purposes under this chapter; and (4) Create and establish such other fund or funds as may be necessary or desirable for its corporate purposes. History of Section.P.L. 1982, ch. 324, § 1.