N.J.S.A. 5:8-51.3

Conduct of raffles by student loan funds, permitted

5:8-51.3. Conduct of raffles by student loan funds, permitted 1. A nonprofit corporation organized under the laws of this State for the sole purpose of making loans to students from a single New Jersey school district to defray the costs of post-secondary education shall be deemed to be a bona fide educational organization which is eligible to conduct raffles and the net proceeds of such raffles shall be deemed to be devoted to educational uses. L.1996,c.159,s.1.

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This is the verbatim text of N.J.S.A. 5:8-51.3, 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.

N.J.S.A. 5:8-51.3 — Conduct of raffles by student loan funds, permitted | Kyzer