New Jersey Statutes 18A:71B-100. Board of trustees
Terms Used In New Jersey Statutes 18A:71B-100
- Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
- Board: means the board of education. See New Jersey Statutes 18A:1-1
- Higher education: means that education which is provided by any or all of the public institutions of higher education as herein defined and any or all equivalent private institutions. See New Jersey Statutes 18A:1-1
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- 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
b. Each public member of the board shall serve for a term of three years and until a successor shall have been appointed and qualified; except that of the first members appointed, two shall serve for one year, three shall serve for two years and four shall serve for three years. Any vacancy in the membership of the board shall be filled in the same manner as the original appointment for the remainder of the unexpired term.
c. Members of the board shall serve without compensation. Reasonable expenses of the board shall be paid out of the fund proceeds, subject to approval by the State Treasurer.
d. The board shall have the following duties and responsibilities:
(1) determine eligibility for a scholarship from the fund;
(2) determine the amount of each scholarship award;
(3) report annually to the Governor and the Legislature on the performance of its duties in accordance with the provisions of this act;
(4) solicit and raise private funds to finance the Military Dependents Scholarship program; and
(5) receive and disburse such contributions to the fund as may be forthcoming from private and public sources.
L.2015, c.117, s.3.