---
title: O.C.G.A. § 20-3-356. Interests of bondholders protected.
collection: code
id: 20-3-356
cite_as: O.C.G.A. § 20-3-356 (2025)
canonical_url: https://georgiacommons.org/code/20-3-356
md_url: https://georgiacommons.org/code/20-3-356.md
text_url: https://georgiacommons.org/code/20-3-356/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t20-ch3-18-(v17a)-2025-pdf.pdf?sfvrsn=10d12596_0#page=230
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
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index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Session of the General Assembly of Georgia
heading_path: EDUCATION / POSTSECONDARY EDUCATION / SCHOLARSHIPS, LOANS, AND GRANTS / GEORGIA STUDENT FINANCE AUTHORITY / Educational Loans Financed by Revenue Bonds
---

# O.C.G.A. § 20-3-356. Interests of bondholders protected.

While any of the bonds issued by the authority remain outstanding, the powers, duties, or existence of the authority or of its officers, employees, or agents shall not be diminished or impaired in any manner that will affect adversely the interests and rights of the holders of such bonds, nor will the state itself in any way obstruct, prevent, impair, or render impossible the due and faithful performance by the authority of its duties. This part shall be for the benefit of the state, the authority, and each and every holder of the authority’s bonds and, upon and after the issuance of bonds under this part, shall constitute an irrevocable contract with the holders of such bonds.

## History

Ga. L. 1969, p. 683, § 39; Code 1933, § 32-3743, enacted by Ga. L. 1980, p. 835, § 3.