### Question
How does HIGHER EDUCATION RESOURCES AND STUDENT ASSISTANCE define reorganization effective date?


### Answer
Under *20 U.S.C. § 1087*, **reorganization effective date** is defined as:

> 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) and shall not be later than the date that is 18 months after September 30, 1996

#### Citation:
  - *20 U.S.C. § 1087*
  - Heading: **CHAPTER 28-HIGHER EDUCATION RESOURCES AND STUDENT ASSISTANCE > SUBCHAPTER IV-STUDENT ASSISTANCE > Part B-Federal Family Education Loan Program**

