18A:68-11.3 - Educational loans from institutional funds; authorization
18A:68-11.3.Ā Educational loans from institutional funds; authorization
In addition to such other powers and authority which institutions of higherĀ education may have, such institutions may make educational loans upon the termsĀ and conditions prescribed by this act, provided that only institutional fundsĀ derived from endowment, corporate or foundation accounts are used to make suchĀ loans.Ā Funds borrowed from sources outside of the institution or received fromĀ governmental sources shall not be used for such loans.
L.1977, c. 123, s. 3, eff. June 6, 1977.
Ā
In addition to such other powers and authority which institutions of higherĀ education may have, such institutions may make educational loans upon the termsĀ and conditions prescribed by this act, provided that only institutional fundsĀ derived from endowment, corporate or foundation accounts are used to make suchĀ loans.Ā Funds borrowed from sources outside of the institution or received fromĀ governmental sources shall not be used for such loans.
L.1977, c. 123, s. 3, eff. June 6, 1977.
Ā
Scroll for next New Jersey statuteā¦