When it shall appear that any corporation is carrying on the business of such instruction or teaching, or conferring any such degree, or giving any such diploma without such license, the Commission on Higher Education, represented by the Attorney General, may institute a civil action in the Superior Court to restrain the corporation from the transaction of any such business or the exercise of any such franchise within this State until it shall have obtained such license or the approval of the commission. The court may proceed in the action in a summary manner or otherwise. The costs in any such action, to be fixed by the court, shall be paid by the corporation before the dissolution of any injunctive order or judgment.
N.J. Stat. Ann. § 18A:68-5
Restraint of corporations operating without license
Known as the Institution of Higher Education Educational Loan Act
The act spans §§ 18–18 (26 sections).
Applied in 2 court decisions — leading case United States Court of Appeals, Third Circuit (1981)
Most recently applied in United States Court of Appeals, Third Circuit (May 1981)
L.1967, c.271; amended 1994,c.48,s.197.
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.