SECTION 22.52. Disbursements to Students

(a) No disbursement shall be made to any student until he or she has executed a promissory note payable to the program for the full amount of any loan plus interest and other authorized fees. In addition, for CAL loans, a cosigner's signature may be also required in accordance with the provisions of §22.46(a)(8) of this title (relating to Eligibility of Students).

(b) The original of such executed promissory note shall be forwarded to the Board immediately.

(c) For the purposes of any promissory note executed by a borrower, the defense that he or she was a minor at the time he or she executed a note shall not be available to him or her in any action arising on the note.

Source Note: The provisions of this §22.52 adopted to be effective May 22, 2003, 28 TexReg 3950; amended to be effective May 16, 2006, 31 TexReg 3872; amended to be effective May 21, 2008, 33 TexReg 3939; transferred effective June 1, 2017, as published in the Texas Register May 19, 2017, 42 TexReg 2739; amended to be effective December 5, 2019, 44 TexReg 7381