Page:United States Statutes at Large Volume 90 Part 2.djvu/674

 9 0 STAT. 2142

Penalty.

Effective date. 20 USC 1071 note,

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20 USC 1078a. Repeal. 83 Stat. 141. 20 USC 1078a note.

PUBLIC LAW 94-482—OCT. 12, 1976 qualifyin": an educational institution as an eli<»:ible institution under this part shall, upon conviction thereof, be fined not more than $1,000 or imprisoned not more than one year, or both. " (c) Any person who knowingly and willfully makes any false statement to, furnishes any false information to, or conceals any material information in connection with the assignment of a loan, which is insured under this part, to another eligible lender, shall, upon conviction thereof, be fined not more than $1,000 or imprisoned not more than one year, or both. " (d) Any person who knowingly and willfully makes an unlawful payment to an eligible lender as an inducement to make, or to acquire by assignment, a loan insured under this part shall, upon conviction thereof, be fined not more than $1,000 or imprisoned not more than one year, or both. " (e) Any person who knowingly and willfully destroys any application for a loan which is insured under this part, any application for insurance of a loan under this part, or destroys or conceals any other record relating to the making or insuring of loans under this part with intent to defraud the United States or to prevent the United States from enforcing any right obtained by subrogation under this part, shall upon conviction thereof, be fined not more than $10,000 or imprisoned not more than five years, or both.". (b) The amendment made by subsection (a) of this section of this Act shall become effective October 1, 1976, except as otherwise provided therein, and to the extent such amendment makes changes in such part B which affect student loans, such changes shall apply to outstanding loans as well as to loans made after the amendment becomes effective, except that — (1) the changes made in sections 4 2 5 (a), 4 2 7 (a)(1)(C), 427 (a)(2)(G) and 428(b)(1)(A), (B), and (P) shall become applicable with respect to loans to cover the costs of education for periods of enrollments beginning on or after October 1, 1976; (2) section 422(c) shall become effective October 1, 1977; (3) section 428(f) shall become effective October 1, 1976; (4) the changes made in section 428(a)(2) shall become applicable with respect to the determination of interest subsidies on loans to cover the costs of education for periods of enrollment beginning on or after 30 days after the date of enactment of this Act; (5) the new section 433 shall become effective with respect to loans made to cover the costs of education for periods of enrollment beginning on or after October 1, 1976; (6) the changes in section 428(c) with respect to the amount of Federal guarantee payments shall become effective with respect to payments to reimburse States and nonprofit private institutions and organizations with which the Commissioner has an agreement under section 428(c) of such part which are made on or after October 1, 1976; and (7) section 438, shall become effective with respect to fiscal quarters beginning after December 31, 1976. (c)(1). Section 2(a)(7) of the Emergency Insured Student Loan Act of 1969 is amended by striking out "October 1, 1976" and inserting in lieu thereof " January 1, 1977." (2) Effective October 1, 1977, the Emergency Insured Student Loan Act of 1969 is repealed.

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