2-15-1520. Student loan advisory council -- terms -- compensation. (1) There is a student loan advisory council appointed by the board of regents.
     (2) The council consists of eight members. Each member must be appointed for a term of 3 years.
     (3) Appointments to the council must conform to the following requirements:
     (a) One member must be a representative of a private eligible educational institution, as defined in 20-26-1101.
     (b) Two members must be representatives of a public eligible educational institution, as defined in 20-26-1101.
     (c) Two members must be representatives of approved lenders.
     (d) One member must be a full-time student registered at an eligible educational institution, as defined in 20-26-1101.
     (e) One member, nonvoting, must be a representative of the office of the commissioner of higher education.
     (f) One member must be a representative of the nonprofit corporation designated by the governor as the sole and exclusive nonprofit corporation in the state to provide a student loan acquisition program.
     (4) A presiding officer must be selected by the council from its membership at the first meeting of each fiscal year.
     (5) Each member of the council is entitled to compensation and reimbursement for travel expenses as provided in 2-15-122(5).

     History: En. Sec. 1, Ch. 691, L. 1979; amd. Sec. 34, Ch. 658, L. 1987; amd. Sec. 1, Ch. 308, L. 1995; amd. Sec. 2, Ch. 243, L. 1997.