(1) There is hereby established a body corporate and politic constituting a public corporation and governmental agency and instrumentality of the Commonwealth by the name of the "Kentucky Higher Education Assistance Authority." The General Assembly of the Commonwealth of Kentucky hereby finds and determines that in carrying out its functions, powers, and duties as prescribed in this chapter, the authority will be p erforming vital public purposes that improve the public welfare and prosperity of the people of the Commonwealth of Kentucky by promoting the availability of and enhancing accessibility to higher educational opportunities. (2) For purposes of transacting a ny business with respect to the insured student loan program in any state other than the Commonwealth, the authority may adopt an assumed name in its corporate capacity, to the extent permitted by the laws of that state. Any assumed name adopted by the aut hority shall not be identical to or deceptively similar to the registered name of any corporation, partnership, trust, or other business entity doing business in that state.
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