15-52-23. Remedies

15-52-23. Remedies In the event the university finds it necessary to cancel a contract or to suspend or recall payments, it may commence legal proceedings for the recovery of all sums loaned to the applicant, together with interest thereon, the total of which sums becomes due and owing immediately upon the mailing to the applicant of written notice of the decision to cancel the contract or to suspend or recall payments thereunder.