15. a. Sections 14 through 20 of P.L.2021, c.27 (C.34:15C-10.3 through C.34:15C-10.9) shall apply to a private career school that operates in this State.
 
   b.   A private career school shall provide the commissioner a teach-out plan that addresses a potential closure of the school. The teach-out plan shall be updated as required by the commissioner.
 
   c.   A teach-out plan shall include any information required by the commissioner and shall state that:
 
   (1)   the school shall make all reasonable efforts to ensure that any closure of a school complies with the requirements of P.L.2021, c.27 (C.18A:3B-90 et al.);
 
   (2)   the chief executive officer and the members of the governing body of the school were not in an executive position or a member of a governing body of a school in which a disorderly closure occurred; and
 
   (3)   any institutional financial aid agreement offered to a student shall contain language stating that, in the event of a disorderly closure, the institutional debt shall be void and shall not be recovered, collected, or enforced.
 
   d.   The commissioner shall seek an injunction or other judicial remedy against a private career school that fails to comply with the requirements of this section, including requiring the school to refund all tuition and fees paid by any student.
 
   L.2021, c.27, s.15.