1. A nonprofit corporation organized under the laws of this State for the sole purpose of making loans to students from a single New Jersey school district to defray the costs of post-secondary education shall be deemed to be a bona fide educational organization which is eligible to conduct raffles and the net proceeds of such raffles shall be deemed to be devoted to educational uses.
N.J. Stat. Ann. § 5:8-51.3
Conduct of raffles by student loan funds, permitted
Known as the Casino Simulcasting Act
The act spans §§ 5:10-1 to 5:9-9 (1,144 sections).
L.1996,c.159,s.1.
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.