New Jersey Statutes 18A:64G-7. Additional powers
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Terms Used In New Jersey Statutes 18A:64G-7
- Board: means the board of education. See New Jersey Statutes 18A:1-1
- Department: means the State Department of Education. See New Jersey Statutes 18A:1-1
- Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
- 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
7. The board of trustees, in addition to the other powers and duties provided herein, shall have and exercise the powers, rights and privileges that are incident to the proper government, conduct and management of the university and the control of its properties and funds and such powers granted to the university or the board or reasonably implied, may be exercised without recourse or reference to any department or agency of the State, except as otherwise provided by this act.
L.1970,c.102,s.7; amended 1981,c.325,s.8; 1994,c.48,s.170.