18A:3B-93 Applicability of C.18A:3B-93 through C.18A:3B-96. 9. a. Sections 9 through 12 of P.L.2021, c.27 (C.18A:3B-93 through C.18A:3B-96) shall apply to an institution of higher education or a proprietary institution licensed to offer academic degrees that operates in this State. b. An institution of higher education or a proprietary institution licensed to offer academic degrees shall enter into a school-to-school teach-out agreement at least 120 days prior to the cessation of institution operations. c. In order to satisfy the requirements of this section, a school-to-school teach-out agreement shall: (1) be arranged by the closing institution; (2) be agreed to by an eligible transfer institution, the closing institution, and the secretary; (3) unless waived for good cause by the secretary, specify that the eligible transfer institution shall: (a) be located within a reasonable distance of the closing institution, if the closing institution has a physical presence in the State; (b) accept the transfer of all completed credits from students affected by the closure; and (c) allow a student affected by the closure to complete the student's program with substantially the same ; (b) accept the transfer of all completed credits from students affected by the closure; and (c) allow a student affected by the closure to complete the student's program with substantially the same number of credit hours as was required by the closing institution; (4) specify that, on request by a student affected by the closure, the closing institution shall provide a complete academic record and an official transcript to the student at no cost to the student; and (5) meet any other standards as deemed appropriate by the secretary. L.2021, c.27, s.9.
New Jersey Legal Code