Pub. L. 89-329, tit. IV, pt. B, sec. 423
effect of adequate non-federal programs
effect of adequate non-federal programs Sec. 423. The Commissioner shall not issue certificates of insurance under section 429 to lenders in a State if he determines that every eligible institution has reasonable access in that State to a State or private nonprofit, student loan insurance program which is covered by an agreement under section 428 (b).