Terms Used In New Jersey Statutes 18A:64N-24

  • Board: means the board of education. See New Jersey Statutes 18A:1-1
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Higher education: means that education which is provided by any or all of the public institutions of higher education as herein defined and any or all equivalent private institutions. See New Jersey Statutes 18A:1-1
  • State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
24. a. The general powers of supervision and control of the Secretary of Higher Education at the request of the Governor over Montclair State University include the power to visit the university to examine into its manner of conducting its affairs and to enforce an observance of the laws of the State.

b. Notwithstanding any other provision of law to the contrary, Montclair State University, through its board of trustees, shall have the care, custody, control, and title of such property acquired through a merger or consolidation occurring on or after the effective date of P.L.2023, c.65 (C. 18A:64N-9.1 et al.), including through or with a subsidiary corporation created by the university, with one or more other nonprofit corporations formed and operated primarily for educational purposes and exempt under paragraph (3) of subsection (c) of section 501 of the Internal Revenue Code (26 U.S.C. § 501(c)(3)), subject to the visitorial powers of the Secretary of Higher Education at the request of the Governor. Any transfer of property owned by the New Jersey Educational Facilities Authority to the university shall be in accordance with subsection (g) of N.J.S. 18A:72A-5

L.2017, c.178, s.24; amended 2023, c.65, s.20.

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