N.J. Stat. § 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 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.