Title 18A, Title 18A: EDUCATION

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 shal…

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 pledgi…

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…

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…

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…

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 St…

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 gi…

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 t…

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…

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 Stat…

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 a…

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 und…

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; …

18A:71A-25 Capital Reserve Fund; use; investment. 18A:71A-25. Capital Reserve Fund; Use; Investment. a. The authority shall establish and maintain a special fund called the "New Jersey Higher Education Student Assistance Capital Reserve Fund" in which there shall be deposited: (1…

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 authorit…

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 invalid…

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 f…

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…

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…

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…

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…

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 da…

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 offi…

18A:71A-34 Limitation on powers of authority; bond holders protected. 18A:71A-34. Limitation on Powers of Authority; Bond Holders Protected. The powers conferred in this act upon the Higher Education Student Assistance Authority shall be exercised with due regard for the rights o…

18A:71A-35 Development, distribution of student loan repayment information document. 1. a. The Higher Education Student Assistance Authority shall develop a student loan repayment information document. The document shall include, but need not be limited to: examples of monthly an…

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 publi…

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…

18A:71A-6 Organization of the board. 18A:71A-6. Organization of the Board. a. Meetings of the board shall be held at such time and place as the members shall determine. A majority of the members in office at a meeting at which public members of the board are present shall be nece…

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…

18A:71A-8 General powers of the authority. 18A:71A-8. General Powers of the Authority. The authority shall have the power to: a. adopt bylaws for the regulation of its affairs and the conduct of its business; b. maintain an office at such place or places within the State as it ma…

18A:71A-9 Further powers of the authority. 18A:71A-9. Further Powers of the Authority. The authority shall have the following powers to: a. further access to postsecondary education, whether by loans, grants, scholarships, savings programs, or other means as approved by the Legis…