reglab/statecodes huggingface dataset:
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71-35 - Prerequisites necessary for awarding grant.

18A:71-35 Prerequisites necessary for awarding grant.
(a) No opportunity grant shall be awarded to any applicant therefor unless such applicant shall have demonstrated to the satisfaction of the board that he or she:
(1) Is and has been a resident of the State for at least 12 months prior to receiving the grant;
(2) Will be or is attending a full-time or other program leading to a degree, or other organized program of study approved by the institution which he or she is or will be attending;
(3) Has demonstrated financial need for such grant, as determined by standards and procedures to be established by the board, in accordance with the provisions of this and the preceding article; and
(4) Has complied with all rules and regulations adopted pursuant to this act by the board for the award, regulation and administration of opportunity grants.
(b) In addition to the requirements of subsection (a) of this section, the board is hereby authorized to require the satisfaction of such other requirements as it may deem necessary to carry out the provisions of this act.
L.1968,c.142,s.8.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71-36 - Financial resources of applicant; rules and regulations.

18A:71-36 Financial resources of applicant; rules and regulations.
In awarding opportunity grants pursuant to this act, the board shall take into account the financial resources available to the applicant to meet the cost of his higher education and the tuition, fees and living expenses at the institution of higher education which the applicant is attending or to which he has been admitted. Opportunity grants awarded pursuant to this act shall be paid to recipients by the State Treasurer in accordance with rules and regulations adopted by the board.
L.1968,c.142,s.9.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71-37 - Period of assistance.

18A:71-37 Period of assistance.
No person shall be eligible for educational opportunity assistance pursuant to this act for more than six years, or for such other period of time as may be determined by the board to be necessary for the completion of an organized course of study. Each opportunity grant awarded pursuant to this act shall remain in effect only so long as the recipient thereof achieves academic progress to the satisfaction of the board and demonstrates continued eligibility pursuant to the provisions of this act.
L.1968,c.142,s.10.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71-38 - No discrimination; number; amount.

18A:71-38 No discrimination; number; amount.
Opportunity grants shall be awarded by the board without regard to race, creed or religion and in such number and amount as may be within the limits of funds appropriated or otherwise made available therefor.
L.1968,c.142,s.11.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71-39 - Remedial and supplementary education for grantees.

18A:71-39 Remedial and supplementary education for grantees.
12. The board of directors shall develop, establish and maintain programs of remedial and supplementary education for the students who will receive educational opportunity assistance under this act. Such programs may be administered directly by the fund or may be co-operative ventures undertaken with any or all of the public and private institutions of higher education in the State.
L.1968,c.142,s.12, amended 1994,c.48,s.217.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71-40.2 - C. Clyde Ferguson Law Scholarships; created

18A:71-40.2. C. Clyde Ferguson Law Scholarships; created
There are created C. Clyde Ferguson Law Scholarships which shall be maintained by the State and awarded and administered pursuant to this act to students from disadvantaged or minority backgrounds enrolled in the Minority Student Program at Rutgers School of Law-Newark, and enrolled in the Rutgers School of Law-Camden and Seton Hall University School of Law.
L.1989, c.259, s.2.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71-40.3 - Scholarships awarded annually

18A:71-40.3. Scholarships awarded annually
C. Clyde Ferguson Law Scholarships shall be awarded annually by the board of directors of the New Jersey Educational Opportunity Fund to 30 New Jersey law students from disadvantaged or minority backgrounds. Each of the participating law schools shall select 10 students to participate in the program.
L.1989, c.259, s.3.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71-40.4 - Requirements for scholarship recipients

18A:71-40.4. Requirements for scholarship recipients
No person shall be awarded a C. Clyde Ferguson Law Scholarship unless:
a. The person has been a resident of New Jersey for a period of not less than one year immediately prior to receiving the scholarship;
b. The person has demonstrated financial need for the scholarship in accordance with standards to be established by the board of directors of the New Jersey Educational Opportunity Fund;
c. The person has demonstrated high moral character, good citizenship, and dedication to American ideals; and
d. The person has complied with all rules and regulations adopted pursuant to this act by the board of directors of the New Jersey Educational Opportunity Fund for the award, regulation and administration of the scholarship.
L.1989, c.259, s.4.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71-40.5 - Amount of scholarship

18A:71-40.5. Amount of scholarship
The amount of a C. Clyde Ferguson Scholarship shall be established by the board of directors of the New Jersey Educational Opportunity Fund but shall not exceed the maximum amount of tuition, fees and on-campus housing charged at the Rutgers School of Law-Newark.
L.1989, c.259, s.5.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71-40.6 - Renewal of scholarship

18A:71-40.6. Renewal of scholarship
Each C. Clyde Ferguson Law Scholarship shall be renewable annually for up to four years except that each scholarship shall remain in effect only if the holder of the scholarship continues to have financial need, achieves satisfactory academic progress as defined by the law school in which the student is enrolled, continues to meet the eligibility criteria and guidelines established by the board of directors of the New Jersey Educational Opportunity Fund, and is regularly enrolled as a full-time student.
L.1989, c.259, s.6.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71-40.7 - Rules, regulations

18A:71-40.7. Rules, regulations
The board of directors of the New Jersey Educational Opportunity Fund shall adopt rules and regulations pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.) necessary to effectuate the purposes of this act.
L.1989, c.259, s.7.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71-78.1 - Tuition-free enrollment in postsecondary program for certain volunteers, family members.

18A:71-78.1 Tuition-free enrollment in postsecondary program for certain volunteers, family members.
1. A person who is an active member of a volunteer fire company or volunteer first aid or rescue squad or association in good standing and the dependent children and spouse of a volunteer shall be allowed to enroll in a postsecondary program on a tuition-free basis in a county college, county vocational school or county technical institute and be eligible to receive tuition credit in an amount not to exceed a maximum of $2,400 for the member, children and spouse; provided that available classroom space permits and that tuition paying students constitute the minimum number required for the course. Nothing herein shall preclude a county college, county vocational school or county technical institute from requiring registration and lab fees for individuals attending courses pursuant to this act.
L.1998,c.145,s.1.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71-78.2 - Eligibility for tuition credit.

18A:71-78.2 Eligibility for tuition credit.
2. In order to be eligible to receive tuition credit at a county college, county vocational school or county technical institute, a person shall agree to serve as a member of a volunteer fire company or volunteer first aid or rescue squad or association for a minimum of four years and sign an agreement with the municipality in which the squad or association is located pledging four years of service in exchange for the tuition credit. Following each year of volunteer service performed, the volunteer or the spouse or dependent child shall be entitled to receive tuition credit of up to $600, not to exceed a maximum of $2,400 for the member, children and spouse over a four-year service period.
L.1998,c.145,s.2.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71-78.3 - Verification of service; transcript records.

18A:71-78.3 Verification of service; transcript records.
3. Upon being accepted and enrolled in a county college, county vocational school or county technical institute, the volunteer, dependent child or spouse shall provide verification to the institution that the volunteer has performed the service required for the tuition credit. Upon completion of each semester, the volunteer shall submit a transcript to the municipality to be maintained in a permanent record. The volunteer or the dependent child or spouse shall maintain a "C" grade average in order to continue eligibility for the tuition credit program.
L.1998,c.145,s.3.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71-78.4 - Issuance of letter of eligibility.

18A:71-78.4 Issuance of letter of eligibility.
4. A municipality which chooses to participate in the tuition credit program shall issue a letter of eligibility to the volunteer, to be presented to the appropriate institution, stating that the individual is a member in good standing of a volunteer fire company, volunteer first aid or rescue squad or association.
L.1998,c.145,s.4.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71A-2 - Terms defined.

18A:71A-2. Terms defined.
18A:71A-2. Terms Defined.
As used in this act, unless the context indicates another or different meaning, the following words shall have the following meanings:
"Authority" means the Higher Education Student Assistance Authority established pursuant to this act, or any body, entity, commission, or department succeeding to the principal functions thereof or to whom the powers conferred upon the authority by this act shall be given by law.
"Board" means the governing body of the authority appointed or elected pursuant to N.J.S.18A:71A-4 of this article.
"Bond" means bonds, notes or other obligations of the authority issued pursuant to this act.
"Commission" means the New Jersey Commission on Higher Education.
"Eligible institution" means, unless otherwise defined by this act or by the authority by regulation, an institution having a participation agreement with the authority which is further defined in 20 U.S.C. s.1071 et seq., and which includes an institution of higher education, a proprietary institution of higher education, a postsecondary vocational institution and a vocational school, provided that the institution or school is licensed or approved by the appropriate agency or department and accredited or preaccredited by a nationally recognized accrediting association.
"Executive director" means the chief executive and administrative officer of the authority.
"Fund" means the Higher Education Student Assistance Fund.
"Lender" or "eligible lender" includes the authority and any institution authorized to make loans under 20 U.S.C. s.1071 et seq. which has entered into a participation agreement with the authority.
"Member" means an individual appointed or elected to the board of the authority or serving ex-officio on the board.
"State college" means any college or university created pursuant to chapter 64 of Title 18A of the New Jersey Statutes.
L.1999,c.46,s.1.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71A-3 - Higher Education Student Assistance Authority created.

18A:71A-3 Higher Education Student Assistance Authority created.
18A:71A-3. Higher Education Student Assistance Authority Created.
The Higher Education Student Assistance Authority, a body corporate and politic, shall be established in the Executive Branch of the State Government and for the purposes of complying with the provisions of Article V, Section IV, paragraph 1 of the New Jersey Constitution, the authority is allocated in but not of the Department of State. The authority shall constitute an instrumentality of the State exercising public and essential governmental functions, and the exercise by the authority of the powers conferred by this act in the furthering of access to postsecondary education, whether by loans, grants, scholarships or other means, shall be deemed and held to be an essential governmental function of the State. The authority shall submit its budget request directly to the Division of Budget and Accounting in the Department of the Treasury.
L.1999,c.46,s.1.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71A-4 - Board of the authority.

18A:71A-4 Board of the authority.
18A:71A-4. a. The Board of the Higher Education Student Assistance Authority shall consist of 18 members as follows: the State Treasurer, ex-officio, or a designee; the Secretary of Higher Education, ex-officio, or a designee from among the public members of the commission; the chairperson of the Board of Directors of the Educational Opportunity Fund, ex-officio, or a designee from among the public members of the board; five representatives from eligible institutions in this State, including one from Rutgers, the State University, one from either the New Jersey Institute of Technology, Rowan University, Montclair State University, or Kean University, one from the county colleges, one from the State colleges, and one from the independent institutions of higher education in the State; two students from different collegiate institutional sectors; seven public members who shall be residents of this State, including one who shall represent a lender party to a participation agreement with the authority; and the executive director of the authority, or designee, who shall be an ex-officio, non-voting member of the board.
b. The seven public members, including the lender member, shall be appointed by the Governor with the advice and consent of the Senate. No more than four of the public members shall be members of the same political party. The institutional representatives shall be nominated by the respective institution in the case of Rutgers, the State University, New Jersey Institute of Technology, Rowan University, Montclair State University, and Kean University. The remaining institutional representatives shall be nominated by the respective sector association. Institutional representatives shall be appointed by the Governor with the advice and consent of the Senate. The student members shall be the individuals that the Student Advisory Committee elects as its chairperson and vice-chairperson. The Student Advisory Committee shall be created by the board to include students from all collegiate institutional sectors. The necessary appointments shall be made within 45 days of the enactment of P.L.1999, c.46 (N.J.S.18A:71A-1 et al.).
c. Public and institutional members of the board shall serve a term of four years and until a successor is appointed and qualified, except in the case of the first members so appointed, four of whom shall be appointed for a term of four years, four of whom shall be appointed for a term of three years, two of whom shall be appointed for a term of two years, and two of whom shall be appointed for a term of one year. Student members shall serve a term of office not to exceed two years. Any vacancy in the membership of the board, occurring otherwise than by expiration of term, shall be filled in the same manner as the original appointment or election was made, but for the unexpired term only.
amended 2012, c.45, s.97; 2017, c.178, s.58; 2021, c.282, s.58.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71A-5 - Executive director.

18A:71A-5 Executive director.
18A:71A-5. Executive Director.
a. The executive director of the authority shall be appointed by the Governor and shall serve at the pleasure of the Governor during the Governor's term of office and until a successor is appointed and qualified, except that the person holding the office of Executive Director of Student Assistance Programs in the Office of Student Assistance in, but not of, the Department of the Treasury, on the effective date of this act shall be the initial executive director of the authority. The executive director shall receive annual compensation, which shall be payable as other State compensation is paid.
b. The executive director shall be:
(1) the chief executive and administrative officer of the authority having general charge and supervision of the work of the authority;
(2) the appointing authority and official agent of the authority for all purposes. The authority shall delegate to the executive director the power to employ financial and computer experts, attorneys, accountants, managers, and such other employees and agents as may be necessary; to fix their compensation; and to promote and discharge the employees and agents;
(3) the budget request officer and the approval officer of the authority;
(4) an officer and an ex-officio, non-voting member of the board; and
(5) authorized, subject to law, to select a designee to act in his place or stead and to have authority over all matters concerning the employment and compensation of staff not classified under Title 11A of the New Jersey Statutes.
L.1999,c.46,s.1.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71A-7 - Limitation of liability, conflict of interest, compensation.

18A:71A-7 Limitation of liability, conflict of interest, compensation.
18A:71A-7. Limitation of Liability, Conflict of Interest, Compensation.
a. The personal liability of members of the board, which shall be a public entity under the "New Jersey Tort Claims Act," N.J.S.59:1-1 et seq., shall be limited to the extent permitted by N.J.S.59:1-1 et seq., this act, and other applicable New Jersey law.
b. Each member of the board shall comply with the "New Jersey Conflicts of Interest Law," P.L.1971, c.182 (C.52:13D-12 et seq.).
c. The members of the board shall receive no compensation for their services, but shall be reimbursed for their actual expenses necessarily incurred in the performance of their duties.
L.1999,c.46,s.1.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71A-11 - Certain pension, benefits, and employment classification provisions applicable to employees of the authority.

18A:71A-11 Certain pension, benefits, and employment classification provisions applicable to employees of the authority.
18A:71A-11. Certain Pension, Benefits, and Employment Classification Provisions Applicable to Employees of the Authority.
a. Notwithstanding the provisions of any law to the contrary, any former employee of the Office of Student Assistance who was a participant in the alternate benefit program, P.L.1969, c.242 (C.18A:66-168 et seq.), and who has continued in uninterrupted service with the State may continue to participate in the alternate benefit program on the same terms as other eligible employees.
b. Notwithstanding the provisions of any law to the contrary, professional administrative staff of the authority are eligible to participate in the alternate benefit program under the provisions of P.L.1969, c.242 (C.18A:66-168 et seq.).
c. Notwithstanding the provisions of any law to the contrary, eligible employees of the authority shall be eligible to obtain supplemental tax-deferred annuities with outside investment carriers on the same basis and with the same carriers as available to members of the alternate benefit program under the provisions of P.L.1969, c.242 (C.18A:66-168 et seq.).
d. The total number of employees in unclassified service including the number of vacant unclassified service positions on the date this act becomes effective shall not decrease without prior authorization by the board.
L.1999,c.46,s.1.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71A-12 - Limitations on issue of bond anticipation notes and other obligations.

18A:71A-12. Limitations on issue of bond anticipation notes and other obligations.
18A:71A-12. Limitations on Issue of Bond Anticipation Notes and Other Obligations.
The authority may issue bond anticipation notes and other short-term obligations which may be renewed from time to time, but the maximum maturity of the notes or obligations, including renewals thereof, shall not exceed five years from the date of issue of the original. The notes or obligations shall be paid from any revenues or other moneys of the authority available therefor and not otherwise pledged, or from the proceeds of sale of the bonds of the authority in anticipation of which they were issued. The notes or obligations shall be issued in the same manner as bonds, and the resolution or resolutions authorizing them may contain any provisions, conditions or limitations which a bond resolution of the authority may contain.
L.1999,c.46,s.1.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71A-13 - Bonds, bond anticipation notes, other obligations: general provisions.

18A:71A-13 Bonds, bond anticipation notes, other obligations: general provisions.
18A:71A-13. Bonds, Bond Anticipation Notes, Other Obligations: General Provisions.
Except as may otherwise be expressly provided by the authority, every issue of its bonds, notes or obligations shall be general obligations of the authority payable from any revenues or moneys of the authority, subject only to any agreements with the holders of particular bonds, notes or obligations pledging any particular revenues or moneys. Notwithstanding that bonds, notes, and other obligations may be payable from a special fund, they shall be fully negotiable within the meaning of Title 12A of the New Jersey Statutes, the Uniform Commercial Code, subject only to the provision of the bonds, notes, and other obligations for registration. The bonds may be issued as serial bonds or as term bonds, or the authority, in its discretion, may issue bonds of both types. The bonds shall be authorized by resolution of the members of the authority and shall bear such date or dates, mature at such time or times, not exceeding 35 years from their respective dates, bear interest at such rate or rates including, but not limited to, fixed, variable, floating or adjustable interest rates, be payable at such time or times, be in such denominations, be in such form, either coupon or registered, carry such registration privileges, be executed in such manner, be payable in lawful money of the United States of America at such place or places, and be subject to such terms of redemption, as the resolution or resolutions may provide. The bonds, notes or obligations may be sold at public or private sale for such price or prices as the authority shall determine. Pending preparation of the definitive bonds, the authority may issue interim receipts or certificates which shall be exchanged for the definitive bonds.
At any time prior to the issuance and sale of bonds or other obligations by the authority under this act, the State Treasurer is authorized to transfer from any available moneys in any fund of the Treasury of the State to the credit of any fund of the authority those sums which the State Treasurer may deem necessary. The sums so transferred shall be returned to the same fund of the Treasury of the State by the State Treasurer from the proceeds of the sale of the first issue of authority bonds, notes or other obligations issued for the same programmatic purpose as the funds transferred by the State Treasurer.
L.1999,c.46,s.1.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71A-14 - Bond resolutions.

18A:71A-14 Bond resolutions.
18A:71A-14. Bond Resolutions.
Any resolution or resolutions of the authority authorizing any bonds or any issues of bonds may contain provisions, which shall be a part of the contract with the holders of the bonds to be authorized as to:
a. the pledging of all or any part of the revenues of the authority;
b. the use and disposition of the revenues;
c. the setting aside of reserves or sinking funds, and the regulations and disposition thereof;
d. limitations on the issuance of additional bonds, the terms upon which additional bonds may be issued and secured and the refunding of outstanding bonds;
e. The procedure, if any, by which the terms of any contract with bondholders may be amended or abrogated, the amount of bonds the holders of which must consent thereto, and the manner in which the consent may be given;
f. limitations on the purpose to which the proceeds of sale of any issue of bonds then or thereafter to be issued may be applied and pledging the proceeds to secure the payment of the bonds or any issue of the bonds;
g. defining the acts or omissions to act which shall constitute a default in the duties of the authority to holders of its obligations and providing the rights and remedies of the holders in the event of a default; and
h. the making of covenants other than and in addition to the covenants herein expressly authorized, of like or different character; and the making of the covenants to do or refrain from doing such acts and things as may be necessary or convenient or desirable in order to better secure the bonds, notes or other obligations which, in the absolute discretion of the authority, will tend to make the bonds, notes, or other obligations more marketable, notwithstanding that the covenants, acts or things may not be enumerated herein.
L.1999,c.46,s.1.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71A-15 - Personal liability on bonds, notes and other obligations.

18A:71A-15 Personal liability on bonds, notes and other obligations.
18A:71A-15. Personal Liability on Bonds, Notes and Other Obligations.
Neither the members of the authority, nor any person executing bonds, notes or other obligations issued by it, nor any officer or employee of the authority shall be liable personally on the bonds, notes or other obligations or be subject to any personal liability or accountability by reason of the issuance thereof.
L.1999,c.46,s.1.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71A-16 - Purchase by authority of bonds, notes and other obligations.

18A:71A-16 Purchase by authority of bonds, notes and other obligations.
18A:71A-16. Purchase by Authority of Bonds, Notes and Other Obligations.
The authority shall have the power out of any funds available therefor to purchase its bonds, notes or other obligations. The authority may hold, pledge, cancel or resell the bonds, subject to and in accordance with agreements with bondholders.
L.1999,c.46,s.1.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71A-17 - Security for bonds.

18A:71A-17 Security for bonds.
18A:71A-17. Security for Bonds.
In the discretion of the authority, any bonds issued by it may be secured by a trust agreement between the authority and a qualified bank as defined in section 1 of "The Banking Act of 1948," P.L.1948, c.67 (C.17:9A-1 et seq.). The trust agreement or resolution providing for the issuance of the bonds may contain such provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper and not in violation of law, including particularly those provisions authorized to be included in any resolution or resolutions of the authority authorizing bonds. Any banking institution, as defined in section 1 of "The Banking Act of 1948," P.L.1948, c.67 (C.17:9A-1 et seq.), may act as depository of the proceeds of bonds or of revenues or other moneys and may furnish such indemnifying bonds or pledge such securities as may be required by the authority. The trust agreement may set forth the rights and remedies of the bondholders and of the trustee or trustees, and may restrict the individual right of action by bondholders. In addition to the foregoing, the trust agreement or resolution may contain such other provisions as the authority may deem reasonable and proper for the security of the bondholders.
L.1999,c.46,s.1.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71A-18 - Liability for payment of bonds.

18A:71A-18 Liability for payment of bonds.
18A:71A-18. Liability for Payment of Bonds.
Bonds issued pursuant to N.J.S.18A:71A-8 shall not be deemed to constitute a debt or liability of the State or of any political subdivision thereof or a pledge of the faith and credit of the State or of any political subdivision, but shall be payable solely from the funds herein provided. The bonds shall contain on the face a statement to the effect that neither the State of New Jersey nor the authority shall be obligated to pay the same or the interest thereon except from revenues or other moneys of the authority and that neither the faith and credit nor the taxing power of the State or of any political subdivision thereof is pledged to the payment of the principal of or the interest on the bonds. The issuance of bonds under the provisions of this act shall not directly or indirectly or contingently obligate the State or any political subdivision thereof to levy or to pledge any form of taxation whatever therefor.
L.1999,c.46,s.1.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71A-19 - Rights of bondholders.

18A:71A-19 Rights of bondholders.
18A:71A-19. Rights of Bondholders.
A holder of bonds issued by the authority pursuant to N.J.S.18A:71A-8, or any of the coupons appertaining thereto, and the trustee or trustees under any trust agreement, except to the extent the rights herein given may be restricted by any resolution authorizing the issuance of, or any trust agreement securing, the bonds, may, either at law or in equity, by suit, action or other proceedings, protect and enforce any and all rights under the laws of the State or granted hereunder or under the resolution of trust agreement, and may enforce and compel the performance of all duties required by this act or by the resolution or trust agreement to be performed by the authority or by any officer, employee or agent thereof.
L.1999,c.46,s.1.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71A-20 - Refunding bonds.

18A:71A-20 Refunding bonds.
18A:71A-20. Refunding Bonds.
a. The authority shall have power to issue bonds for the purposes of refunding any of its bonds then outstanding, including the payment of any redemption premium thereon and any interest accrued or to accrue to the earliest or subsequent date of redemption, purchase or maturity of the bonds.
b. The proceeds of bonds issued for the purpose of refunding outstanding bonds may, in the discretion of the authority, be applied to the purchase or retirement at maturity or redemption of outstanding bonds either on their earliest or any subsequent redemption date or upon the purchase or at the maturity thereof and may, pending such application, be placed in escrow to be applied to the purchase or retirement at maturity or redemption on such date as may be determined by the authority. Any escrowed proceeds, pending such use, may be invested and reinvested in obligations of or guaranteed by the United States of America, or in certificates of deposit or time deposits secured by obligations of or guaranteed by the United States of America, maturing at such time or times as shall be appropriate to assure the prompt payment, as to principal, interest and redemption premium, if any, of the outstanding bonds to be so refunded. The interest, income and profits, if any, earned or realized on any such investment may also be applied to the payment of the outstanding bonds to be so refunded. After the terms of the escrow have been fully satisfied and carried out, any balance of the proceeds and interest, income and profits, if any, earned or realized on the investments thereof may be returned to the authority for use by it in any lawful manner. All such bonds shall be subject to the provisions of this act in the same manner and to the same extent as other bonds issued pursuant to this act and N.J.S.18A:71A-8.
L.1999,c.46,s.1.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71A-21 - Bonds as legal investments.

18A:71A-21 Bonds as legal investments.
18A:71A-21. Bonds as Legal Investments.
Bonds, notes and other obligations issued by the authority under the provisions of this act and N.J.S.18A:71A-8, are hereby made securities in which the State and all political subdivisions of the State, their officers, boards, commissions, departments or other agencies, banks, savings banks, savings and loan associations, investment companies, all insurance companies, insurance associations and all administrators, executors, guardians, trustees and other fiduciaries, and all other persons who now are or may hereafter be authorized to invest in bonds, notes or other obligations of the State, may properly and legally invest any funds, including capital belonging to them or within their control; and the bonds, notes or other obligations are hereby made securities which may properly and legally be deposited with and received by any State or municipal officers or agency of the State for any purpose for which the deposit of bonds or other obligations of the State is now or may hereafter be authorized by law.
L.1999,c.46,s.1.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71A-22 - Pledge of state; exemption from taxation; taxable bond option.

18A:71A-22 Pledge of state; exemption from taxation; taxable bond option.
18A:71A-22. Pledge of State; Exemption From Taxation; Taxable Bond Option.
a. The State of New Jersey does pledge to and agree with the holders of the bonds, notes and other obligations issued pursuant to authority contained in this act and N.J.S.18A:71A-8, that the State will not limit the power and obligation of the authority to fulfill the terms of any agreements made with the holders of bonds, notes and other obligations so issued, or in any way impair the rights or remedies of the holders of the bonds, and will not modify in any way the exemptions for taxation provided for in this act, until the bonds, notes and other obligations together with interest thereon, are fully paid and discharged. The authority as a public body corporate and politic shall have the right to include the pledge herein made in its bonds and contracts.
b. Unless otherwise determined by the authority, all bonds, notes or other obligations issued pursuant to this act are hereby declared to be issued by a body corporate and politic of this State and for an essential public and governmental purpose. The bonds, notes and other obligations, and the interest thereon and the income therefrom, and all fees, charges, funds, revenues, income and other moneys pledged or available to pay or secure the payment of the bonds, notes or other obligations, or interest thereon, shall at all times be exempt from taxation except for transfer, inheritance and estate taxes.
c. With respect to all or any portion of any issue of any bonds, notes or other obligations that the authority may issue in accordance with this act, the authority may covenant, elect and consent that the interest on the bonds be includable under the federal Internal Revenue Code of 1986, as amended, in the gross income of the holders of the bonds to the same extent and in the same manner that the interest on bills, bonds, notes or other obligations of the United States is includable in the gross income of the holders under the federal Internal Revenue Code of 1986, as amended, or in such other manner as the authority may covenant, elect and consent. Bonds issued pursuant to this act are not subject to any limitations or restrictions of any law that may limit the authority's power to issue those bonds.
L.1999,c.46,s.1.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71A-23 - Higher Education Student Assistance Fund.

18A:71A-23 Higher Education Student Assistance Fund.
18A:71A-23. Higher Education Student Assistance Fund.
The authority shall establish and maintain a special fund called the "Higher Education Student Assistance Fund" solely for its activities as a guaranty agency and lender under 20 U.S.C.s.1071 et seq. The fund shall consist of: a. all moneys appropriated by the Legislature for inclusion in the fund; b. federal advances and other revenues realized as a result of guaranty and lender activities under 20 U.S.C.s.1071 et seq.; c. investment earnings of the fund; d. moneys contributed to the authority by private sources, to be used for the purposes of this act; e. the proceeds received by the sale of its bonds, bond anticipation notes and other obligations as provided by law; and f. the proceeds received by the authority from the resale of notes evidencing approved loans made pursuant to this act.
The authority may in any resolution authorize the establishment within the Higher Education Student Assistance Fund of separate special funds as necessary for moneys to be held in pledge or otherwise for payment or redemption of bonds, notes or other obligations, reserves or other purposes and to covenant as to use and disposition of the moneys held in these special funds.
L.1999,c.46,s.1.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71A-24 - Loan Reserve Fund.

18A:71A-24 Loan Reserve Fund.
18A:71A-24. Loan Reserve Fund.
a. Within the Higher Education Student Assistance Fund, the authority shall establish and maintain a special fund called the "Loan Reserve Fund" in which shall be deposited: (1) all reserve funds held by the authority; (2) all moneys appropriated by the State for the purpose of the fund, and (3) any other moneys or funds of the authority which it determines to deposit therein. Moneys in the Loan Reserve Fund shall be held and approved solely for the purchase by the fund of defaulted loans either by payment to a lender or by transfer to the Higher Education Student Assistance Fund, of the total amount of principal and interest then due and owing on any defaulted note, except to the extent that the moneys represent advances made to the authority by the United States of America, or agencies thereof, which the authority may be required to repay, and in the event repayment is required, it shall be made from the Loan Reserve Fund.
b. The sum total of all funds on deposit in the Loan Reserve Fund, hereafter referred to as the "loan reserve requirement," shall in no event be less than the amount required under 20 U.S.C. s.1071 et seq.
c. In order to assure the maintenance of the loan reserve requirement in the Loan Reserve Fund, there shall be appropriated annually and paid to the authority for deposit in the fund, such sum, if any, as shall be certified by the chairperson of the Board of the Higher Education Student Assistance Authority to the Governor as necessary to maintain the fund in an amount equal to the loan reserve requirement during the then current fiscal year. The chairperson shall annually, on or before December 1, make and deliver to the Governor a certificate stating the sums, if any, required to maintain the fund in the amount equal to the loan reserve requirement, and the sum or sums so certified shall be appropriated and paid to the authority during the then current State fiscal year.
d. Moneys in the fund at any time in excess of the loan reserve requirement, whether by reason of investment or otherwise, may be withdrawn at any time by the authority and transferred to any other fund or account of the authority, to the extent permitted under 20 U.S.C.s.1071 et seq.
e. Moneys at any time in the Loan Reserve Fund may be invested in any direct obligations of, or obligations as to which the principal and interest thereof is guaranteed by, the United States of America or such other obligations as the authority may approve, to the extent permitted under 20 U.S.C.s.1071 et seq.
f. For purposes of valuation, investments in the Loan Reserve Fund shall be valued at the lowest of the par value, cost to the authority, or market value of the investments. Valuation on any particular date shall include the amount of interest then earned or accrued to the date on any moneys or investments in the Loan Reserve Fund.
L.1999,c.46,s.1.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71A-26 - Dissolution.

18A:71A-26 Dissolution.
18A:71A-26. Dissolution.
Should the Legislature act to dissolve the authority, the dissolution shall not be complete until all loans guaranteed have been paid by the borrower, or if in default, by the authority. Thereafter, upon dissolution of the authority, or the cessation of its activities, all assets of the authority, after payment and discharge of its debts and other liabilities, shall be distributed to the State, for exclusively public purposes, or distributed for one or more exempt purposes within the meaning of paragraph (3) of subsection (c) of section 501of the federal Internal Revenue Code of 1986, 26 U.S.C.s.501.
L.1999,c.46,s.1.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71A-27 - Effect of partial invalidity; severability.

18A:71A-27 Effect of partial invalidity; severability.
18A:71A-27. Effect of Partial Invalidity; Severability.
If any clause, sentence, article, paragraph, section or part of this act be adjudged to be unconstitutional or invalid, that judgment shall not affect, impair or invalidate the remainder thereof, but shall be confined in its operation to the clause, sentence, article, paragraph, section or part thereof directly involved in the controversy in which the judgment has been rendered.
L.1999,c.46,s.1.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71A-28 - Transfer of functions, powers and duties of office of student assistance.

18A:71A-28 Transfer of functions, powers and duties of office of student assistance.
18A:71A-28. Transfer of Functions, Powers and Duties of Office of Student Assistance.
a. The Office of Student Assistance in, but not of, the Department of the Treasury is abolished and all its functions, powers, duties and employees are transferred to the Higher Education Student Assistance Authority in, but not of, the Department of State.
b. Whenever, in any law, rule, regulation, order, contract, document, judicial or administrative proceeding or otherwise, reference is made to the Office of Student Assistance or officers thereof in, but not of, the Department of the Treasury, the same shall mean and refer to the Higher Education Student Assistance Authority or the officers thereof in, but not of, the Department of State.
c. Nothing in this act shall be construed to alter the terms and conditions, rights or remedies of any loan, grant or scholarship made by the Office of Student Assistance.
d. This transfer shall be subject to the provisions of the "State Agency Transfer Act," P.L.1971, c.375 (C.52:14D-1 et seq.)
L.1999,c.46,s.1.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71A-29 - Transfer of Functions, powers and duties of student assistance board.

18A:71A-29 Transfer of Functions, powers and duties of student assistance board.
18A:71A-29. Transfer of Functions, Powers and Duties of Student Assistance Board.
a. The Student Assistance Board in, but not of, the Department of the Treasury established pursuant to section 1 of P.L.1977, c.330 (C.18A:71-15.1), is abolished and all its functions, powers and duties are transferred to the Higher Education Student Assistance Authority in, but not of, the Department of State.
b. Whenever, in any law, rule, regulation, order, contract, document, judicial or administrative proceeding or otherwise, reference is made to the Student Assistance Board in, but not of, the Department of the Treasury, the same shall mean and refer to the Higher Education Student Assistance Authority in, but not of, the Department of State.
c. Nothing in this act shall be construed to alter the terms and conditions of any loan, grant or scholarship made to students through the board.
d. This transfer shall be subject to the provisions of the "State Agency Transfer Act", P.L.1971, c.375 (C.52:14D-1 et seq.).
L.1999,c.46,s.1.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71A-30 - Transfer of functions, powers and duties of higher education assistance authority.

18A:71A-30 Transfer of functions, powers and duties of higher education assistance authority.
18A:71A-30. Transfer of Functions, Powers and Duties of Higher Education Assistance Authority.
a. The Higher Education Assistance Authority in, but not of, the Department of the Treasury, established pursuant to N.J.S.18A:72-3, is abolished and all its functions, powers and duties are transferred to the Higher Education Student Assistance Authority in, but not of, the Department of State.
b. Whenever, in any law, rule, regulation, order, contract, document, judicial or administrative proceeding or otherwise, reference is made to the Higher Education Assistance Authority or the officers thereof in, but not of, the Department of the Treasury, the same shall mean and refer to the Higher Education Student Assistance Authority or the officers thereof in, but not of, the Department of State.
c. Nothing in this act shall be construed to alter the terms and conditions of loans made to students by the authority. Nothing in this act shall be construed to alter the terms, conditions, rights, or remedies of any obligation issued by the authority.
d. This transfer shall be subject to the provisions of the "State Agency Transfer Act," P.L.1971, c.375 (C.52:14D-1 et seq.).
L.1999,c.46,s.1.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71A-31 - Abolishment of executive director of student assistance programs.

18A:71A-31 Abolishment of executive director of student assistance programs.
18A:71A-31. Abolishment of Executive Director of Student Assistance Programs.
The Office of the Executive Director of Student Assistance Programs in the Office of Student Assistance, established pursuant to subsection b. of section 17 of P.L.1994, c.48 (C.18A:3B-17), is hereby abolished.
L.1999,c.46,s.1.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71A-32 - Construction of law.

18A:71A-32 Construction of law.
18A:71A-32. Construction of Law.
The enactment of this revision law shall not:
a. affect the tenure, compensation and pension rights, if any, of the lawful holder thereof, in any position held in the Office of Student Assistance on the effective date of this act and not specifically abolished in this act;
b. alter the term of any employee of the Office of Student Assistance, lawfully employed as of the effective date of this act;
c. alter any terms or conditions of any student loans, grants or scholarships;
d. alter any rights or obligations arising from any law, rule, regulation, order, contract, loan, grant, document, judicial or administrative proceeding.
L.1999,c.46,s.1.
2023 New Jersey Revised Statutes › Title 18A - Education › Section 18A:71A-33 - Higher Education Student Assistance Authority to be responsible for implementation.

18A:71A-33 Higher Education Student Assistance Authority to be responsible for implementation.
18A:71A-33. Higher Education Student Assistance Authority to Be Responsible for Implementation.
The Higher Education Student Assistance Authority, with the aid of any department or officer thereof, if requested, shall be responsible for any administrative, fiscal and personnel actions necessary to implement the provisions of this act.
L.1999,c.46,s.1.