As used in this chapter:
"Person" means individual, corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity.
"Educational institution" means any university, college, community college, junior college, high school, technical, vocational, or professional school, or similar institution, wherever located, which has been accredited by the Northwest Association of Higher and Secondary Institutions or approved by the state agency having regulatory powers over the class of schools to which the school belongs, or accredited or approved by the appropriate official, department, or agency of the state in which the institution is located.
"Educational loan" means a loan or other aid or assistance for the purpose of furthering the obligor's education at an educational institution.
[ 1970 ex.s. c 4 § 1; ]
Any written obligation signed by a minor sixteen or more years of age in consideration of an educational loan received by him or her from any person is enforceable as if he or she were an adult at the time of execution, but only if prior to the making of the educational loan an educational institution has certified in writing to the person making the educational loan that the minor is enrolled, or has been accepted for enrollment, in the educational institution.
[ 2011 c 336 § 698; 1970 ex.s. c 4 § 2; ]
This chapter shall be so interpreted and construed as to effectuate its general purpose to make uniform the law of those states which enact it.
[ 1970 ex.s. c 4 § 3; ]
This chapter may be cited as the "Uniform Minor Student Capacity to Borrow Act."
[ 1970 ex.s. c 4 § 4; ]
This chapter shall take effect on July 1, 1970.
[ 1970 ex.s. c 4 § 5; ]