18A:68-11.3 - Educational loans from institutional funds; authorization - New Jersey Statutes

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.