PREVIOUS SECTION | Go back to sections | Go back to the chapter | Go back to the N.J. Statutes homepage | NEXT SECTION |
New Jersey Statutes, Title: 18A, EDUCATION
Chapter 71c: Administration by the authority.
Section: 18A:71c-4: Federal loan evidenced by note; interest rate; method of payment; security.
18A:71C-4. Federal Loan Evidenced by Note; Interest Rate; Method of Payment; Security.
Each federal loan made under this article shall:
a. be evidenced by a note or other obligation approved by the authority;
b. bear interest at a rate not exceeding the maximum percentage per annum permitted under 20 U.S.C.s.1071 et seq. and implementing rules and regulations;
c. be payable in such manner or in such installments as permitted under 20 U.S.C.s.1071 et seq. and implementing rules and regulations; and
d. be secured only by the personal liability of the maker, and not by any endorsers, co-maker's collateral, or other security, except as may be permitted under 20 U.S.C.s.1071 et seq. and implementing rules and regulations.
L.1999,c.46,s.1.
This section added to the Rutgers Database: 2012-09-26 13:37:48.
Older versions of 18a:71c-4 (if available):
Court decisions that cite this statute:
CLICK HERE.