Any written obligation signed by a minor sixteen or more years of age in consideration of an educational loan received by him from any person is enforceable as if he were an adult at the time of execution, but only if prior to the making of the educational loan an educational institution has certified in writing to the person making the educational loan that the minor is enrolled, or has been accepted for enrollment, in the educational institution.

Terms Used In Arizona Laws 44-140.01

  • Adult: means a person who has attained eighteen years of age. See Arizona Laws 1-215
  • Educational institution: means a university, college, community college, junior college, high school, technical, vocational or professional school, or similar institution, wherever located, approved or accredited for the purposes of this article by the state board of education. See Arizona Laws 44-140
  • Educational loan: means a loan or other aid or assistance for the purpose of furthering the obligor's education at an educational institution. See Arizona Laws 44-140
  • Minor: means a person under eighteen years of age. See Arizona Laws 1-215
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Person: means individual, corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Arizona Laws 44-140
  • Writing: includes printing. See Arizona Laws 1-215
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