Session Laws

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

Section 4 of chapter 356 of the acts of 1982 is hereby amended by striking out the last sentence and inserting in place thereof the following two sentences:- For the purposes of Section 435(d)(1)(F) of the Higher Education Act, the corporation shall be deemed to be an agency of the commonwealth functioning as a secondary market. For all purposes of the laws of the commonwealth, the corporation shall be treated as a private, nonprofit corporation, as provided in this chapter, and, unless explicit reference to the provisions of this sentence is contained therein, no provision of any special or general law heretofore or hereafter enacted shall be effective to provide or be construed to provide that the corporation is an agency or authority of the commonwealth or of any political subdivision thereof or a governmental unit or entity of any kind whatsoever or to impose on the corporation any obligations not applicable generally to corporations organized under chapter one hundred and eighty of the General Laws.