# KRS § 164A.040: 164A.040 Purpose

> Kentucky · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C164A_S164A.040

## Section

- **Citation:** KRS § 164A.040
- **Heading:** 164A.040 Purpose
- **Jurisdiction:** Kentucky
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** KY Code / Title XIII / Chapter 164A / Section 164A.040

## Text

164A.040 Purpose.

(1) The General Assembly of the Commonwealth of Kentucky hereby finds and

determines that as a result of the adoption of the education amendments of 1976 by

the Congress of the United States, being Public Law 94-482, it is essential, in order

that the Commonwealth of Kentucky may continue to provide adequate educational

opportunities to all of its citizens and residents, that the corporation be created and

empowered to finance student loan operations in Kentucky by the issuance of its

bonds and notes for the purpose of making and purchasing student loans.

(2) The General Assembly hereby finds and declares further that in the performance of

its duties, powers and responsibilities, the corporation will be performing essential

public and governmental functions and shall be and constitute an independent de

jure municipal corporation and political subdivision of the Commonwealth of

Kentucky for the purpose of promoting higher educational opportunities through a

program of financing, making, and purchasing of student loans.

## Nearby sections

- [KRS § 164A.010 164A.010 Findings -- Determinations -- Intent](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C164A_S164A.010.md)
- [KRS § 164A.011 164A.011 Plans for organization and operation of corporation and of Kentucky Higher Education Assistance Authority -- Code of ethics](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C164A_S164A.011.md)
- [KRS § 164A.020 164A.020 Definitions](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C164A_S164A.020.md)
- [KRS § 164A.030 164A.030 Corporation is de jure municipal corporation and political subdivision](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C164A_S164A.030.md)
- [KRS § 164A.040 164A.040 Purpose](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C164A_S164A.040.md)
- [KRS § 164A.050 164A.050 Kentucky Higher Education Student Loan Corporation -- Establishment -- Organization -- Terms -- Duties -- Removal -- Expenses -- Relationship with other educational entities](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C164A_S164A.050.md)
- [KRS § 164A.055 164A.055 Asset Resolution Corporation -- Purpose -- Powers -- Compensation](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C164A_S164A.055.md)
- [KRS § 164A.060 164A.060 Powers of corporation](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C164A_S164A.060.md)
- [KRS § 164A.065 164A.065 Powers of corporation as to supplemental student loans](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C164A_S164A.065.md)
- [KRS § 164A.070 164A.070 Status of obligations issued by corporation](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C164A_S164A.070.md)
- [KRS § 164A.080 164A.080 Bond issue -- Amount -- Interest -- Use of proceeds -- Approval of General Assembly required for certain bond or note issuances -- Exception](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C164A_S164A.080.md)
- [KRS § 164A.090 164A.090 Trust agreements authorized](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C164A_S164A.090.md)
- [KRS § 164A.100 164A.100 Pledge of assets or revenues of corporation](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C164A_S164A.100.md)
- [KRS § 164A.110 164A.110 All moneys received deemed trust funds](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C164A_S164A.110.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C164A_S164A.040. Check the current official text before relying on it. Not legal advice.