N.J. Stat. § 34:15C-10: Private career school entrance into school-to-school teach-out agreement.

16. a. A private career school shall enter into a school-to-school teach-out agreement at least 120 days prior to the cessation of school operations.

b. In order to satisfy the requirements of this section, a school-to-school teach-out agreement shall:

(1) be arranged by the closing private career school;

(2) be agreed to by an eligible transfer institution, the closing private career school, and the commissioner; and

(3) unless waived for good cause by the commissioner, specify that the eligible transfer institution shall:

(a) be located within a reasonable distance of the closing school, if the closing school 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 school; and

(4) not charge a student tuition or fees in excess of the lesser of:

(a) the remaining amount that a student affected by the closure would have paid to the closing school to complete the program; or

(b) the transfer institution's applicable tuition and fees; and

(5) specify that, on request by a student affected by the closure, the closing school shall provide a complete academic record and an official transcript to the student at no cost to the student.

L.2021, c.27, s.16.