{"data":{"id":"us-nj/n.j.-stat.-18a-71b-38","jurisdiction":"us-nj","citation":"N.J. Stat. § 18A:71B-38","heading":"Administration of the program; powers of the authority.","body":"Administration of the Program; Powers of the Authority.\nThe Higher Education Student Assistance Authority shall administer the NJBEST Program.  The authority shall have the power to:\na.\tserve as trustee of the trust;\nb.\tadopt rules and regulations pursuant to the \"Administrative Procedure Act,\" P.L.1968, c.410 (C.52:14B-1 et seq.), necessary to carry out the provisions of this article;\nc.\tprescribe and provide appropriate forms for participation in the program;\nd.\tselect an investment manager and any other contractors needed to manage and market the program;\ne.\tmonitor the investment manager and any other contractors by audits and other reports;\nf.\tcollect reasonable administrative fees in connection with any contract or transaction relating to the program;\ng.\timpose penalties for nonqualified withdrawals;\nh.\ttake all actions required so that the program is treated as a qualified State tuition program under section 529 of the federal Internal Revenue Code of 1986, 26 U.S.C.s.529; and\ni.\tperform any other acts which may be deemed necessary or appropriate to carry out the objects and purposes of this article.\nL.1999,c.46,s.1.","path":["TITLE 18A EDUCATION"],"source_url":"https://pub.njleg.state.nj.us/statutes/STATUTES-TEXT.zip","current_through":"P.L.2025, c.405, and J.R.22","vintage":"","retrieved_at":"2026-08-27T17:54:13Z","sha256":"0a9d2837fe64b2ea23a44d0285e6849166a2d69d79b8364559cec13c6e7e0790","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-18a-71b-37","next":"us-nj/n.j.-stat.-18a-71b-39"},"notice":"GroundRules: Original legal text. Not legal advice."}