### Question
Can you define what reorganization effective date means?


### Answer
**Reorganization effective date** is defined as the following in *20 U.S.C. § 1087*:

> the effective date of the reorganization as determined by the Board of Directors of the Association, which shall not be earlier than the date that shareholder approval is obtained pursuant to subsection (b) of this section and shall not be later than the date that is 18 months after September 30, 1996

#### Citation:
  - *20 U.S.C. § 1087*
  - Heading: **CHAPTER 27-NATIONAL VOCATIONAL STUDENT LOAN INSURANCE > SUBCHAPTER IV-STUDENT ASSISTANCE > Part B-Federal Family Education Loan Program**

