New Jersey Statutes 18A:71C-29. Certain actions prohibited concerning NJCLASS loans
Terms Used In New Jersey Statutes 18A:71C-29
- 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
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- 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. Notwithstanding any provision of law to the contrary, in the case of any NJCLASS loan in default status, the authority shall not refer any borrower to the Department of the Treasury, Division of Taxation for Set-Off of Individual Liability or notify the department and the Division of the State Lottery to withhold a borrower’s winnings pursuant to section 5 of P.L.1997, c.306 (C. 5:9-13.14) if the authority and borrower have entered into a settlement agreement .
c. Notwithstanding any provision of law to the contrary, any entity designated in section 2 of P.L.1978, c.73 (C. 45:1-15), or any principal department in the Executive Branch of State government or any division, board, bureau, office, commission, or other instrumentality within or created by such a department, or any other entity created to license or otherwise regulate a profession or occupation, issuing any license, certification, or registration, shall not define a borrower’s delinquent or default status on an NJCLASS loan as the basis for the denial, suspension, or revocation of the borrower’s professional or occupational license, certification, or registration.
L.2019, c.386, s.1.