N.J.S.A. 18A:68-11.3 — Educational loans from institutional funds; authorization

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

This is the verbatim text of N.J.S.A. 18A:68-11.3, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.