New Jersey Statutes 34:15C-10.3. Definitions
Terms Used In New Jersey Statutes 34:15C-10.3
- Contract: A legal written agreement that becomes binding when signed.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- 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
“Closure” means the cessation of operations by a private career school.
“Commissioner” means the Commissioner of Labor and Workforce Development.
“Disorderly closure” means a closure that does not meet the requirements of P.L.2021, c.27 (C. 18A:3B-90 et al.).
“Eligible transfer institution” means a private career school that has been approved by the commissioner pursuant to section 17 of P.L.2021, c.27 (C. 34:15C-10.6).
“Institutional debt” means:
(1) the amount outstanding on any credit, including unpaid charges, extended by or on behalf of a private career school that a student is obligated to repay, whether the amount has been reduced to a judgment or the school classifies it as a loan; or
(2) a nonfederal loan or debt agreement that is issued expressly for postsecondary education expenses and that is guaranteed by a private career school or a private educational lender that is affiliated with a private career school.
“Institutional financial aid agreement” means any contract, promissory note, part of an enrollment agreement, or other agreement in which a student agrees to pay an institutional debt.
“Orderly closure” means a closure that meets the requirements of P.L.2021, c.27 (C. 18A:3B-90 et al.).
“Private career school” means a privately owned and privately operated postsecondary school, other than an institution of higher education or proprietary institution licensed to offer academic degrees, that furnishes or offers to furnish programs, whether or not requiring a payment of tuition or fee, for the purpose of training, retraining, or upgrading individuals for gainful employment as workers in recognized or emerging occupations.
“Student” means an individual enrolled at a private career school in New Jersey, or a New Jersey resident enrolled at a private career school located outside of this State.
“Teach-out agreement” means a written agreement between schools that provides for the equitable treatment of students and a reasonable opportunity for students to complete their program of study if a school, or a school location that provides 100 percent of at least one program offered, ceases to operate before all enrolled students have completed their program of study.
“Teach-out plan” means a written plan developed by the school that provides for the equitable treatment of students if a school, or a school location, ceases to operate before all students have completed their program of study, and may include, if required by the school’s accrediting agency, a teach-out agreement between schools.
L.2021, c.27, s.14.