{"data":{"id":"us-nj/n.j.-stat.-45-15-10.13","jurisdiction":"us-nj","citation":"N.J. Stat. § 45:15-10.13","heading":"Revocation of license of school; exceptions","body":"56.  Upon the revocation of the instructor license issued to any partner, officer, director or owner of a controlling interest in any licensed school, the commission shall revoke  the license of the school unless, within a period of time fixed by the commission, the following conditions are fulfilled:  a. in the case of a licensed school owned by a partnership, the connection of the partner whose instructor license has been revoked to the school shall be severed and his interest in the school shall be divested; or b.  in the case of a licensed school owned by a corporation, the officer, director or owner of a controlling interest whose instructor license has been revoked shall be terminated from the position and, where an owner of a controlling interest, his ownership of the interest shall be divested; or c. in the case of a limited partnership, if the person whose instructor license has been revoked was a general partner, his interest in the school shall be divested or, if the person whose instructor license was revoked was a limited partner, his interest in the school shall be divested if it constituted a controlling interest as defined herein.  For the purposes of this section, the term \"controlling interest\" means 5% or more of the equity of a licensed corporation or of the ownership of a partnership.\nL.1993,c.51,s.56.","path":["TITLE 45 PROFESSIONS AND OCCUPATIONS"],"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":"f3c5a786a0b52ad96e1171b488f2db1b8d0af78eb2380259c4b01f16db68e159","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-45-15-10.12","next":"us-nj/n.j.-stat.-45-15-10.14"},"notice":"GroundRules: Original legal text. Not legal advice."}