"Article 1-Introducense the following amendments to law No. 18.591: 1.-replacements first and second paragraphs of his article 70, for the following:" article 70.-create a solidarity fund of University credit for each one of the institutions of higher education that receive input from the State pursuant to article 1 of the decree with force of law N ° 4 "" , of the Ministry of education, 1981. This Fund will be assigned in domain before concerned institutions, with the limitations established by this law.
The administration of the funds shall be made pursuant to the legal provisions that govern them and to set the regulation adopted, for this purpose, each one of the institutions referred to in the preceding paragraph. "."
2. Add the following article 71 bis, new: "(Artículo 71 bis: El fondo solidario de crédito universitario de cada institución de educación superior estará constituido, además, por los siguientes activos: a) resources that annually to see the law of budgets for these purposes;"
b) the voluntary contributions that professionals and from alumni of the respective institution, and c) other donations.
The proceeds from the letter to) will be distributed among the different funds considering the socio-economic composition of the students of the institution and the proportion of students belonging to the lower income group serving the country. The distribution will be made by Decree of the Ministry of education, also signed by the Minister of finance.
(The contributions volunteers and donations referred to in subparagraphs b)) and (c) above, they will be freed of the formality of overtone and shall be exempt from the tax levied inheritance and donations. "."
3 insert in your article 74, between the word "Fund" and the phrase "of college credit", the expression "Solidary".
4 added to the end of the third paragraph of article 75, then of the word "operations", the following phrase: "and shall be unattachable".
5 replace the second paragraph of its article 76, by the following: "debts to students by this concept, will be governed always by legal provisions governing the solidarity funds for college credit and contracts which have individually agreed with the institution in accordance with the respective regulations.".
6 replace first article 79, subparagraph with the following: "article 79-higher education institutions may sell, totally or partially, the portfolio of debtors of the solidarity funds for college credit to public or private institutions, on the proposal of the rector and with the favorable vote of two-thirds of the superior collegiate body of the entity.".
7 repeal second and third paragraphs of his article 78.
8 Intercalace in its article 80, between the word "funds" and the phrase "of college credit", the expression "solidarity".
9 added the following article 80 bis, new: "article 80 bis.-the Superintendency of securities and insurance will regulate a system of provisions reflecting the risk of non-recovery of the loans granted by the funds."
The general manager of the bottom of each institution will give you to know the results of recovery of credits annually by race, which will be public. "."