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Section 5:8-51.3 - Conduct of raffles by student loan funds, permitted

NJ Rev Stat § 5:8-51.3 (2019) (N/A)
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5:8-51.3. Conduct of raffles by student loan funds, permitted

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.

L.1996,c.159,s.1.

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Section 5:8-51.2 - Amusement and recreation licenses; exemption from raffles licensing law
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Section 5:8-51.4 - Use of net proceeds for capital improvements by certain entities from raffles.