The Arizona Revised Statutes have been updated to include the revised sections from the 54th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 54th Legislature, 2nd Regular Session, which convenes in January 2020.
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
A. The Arizona teacher student loan fund is established. All monies appropriated to carry out the purposes of sections 15-1782 and 15-1783 shall be deposited in the fund, and all payments of principal and interest that are received by the commission shall be deposited, pursuant to sections 35-146 and 35-147, in the fund.
B. Monies in the fund are continuously appropriated for use by the commission. The commission may retain up to ten percent of the amount deposited each fiscal year in the fund for the purposes of administering the loan program established by this article and may use the interest deposited in the fund to cover the administrative costs of the loan repayment responsibilities established by this article.
C. On notice from the commission, the state treasurer shall invest and divest monies in the fund as provided by section 35-313, and monies earned from investment shall be credited to the fund.