107 STAT. 2480
PUBLIC LAW 103-208—DEC. 20, 1993
20 USC 1099c.
20 USC 1099C-1.
20 USC 1102d.
20 USC 1105d.
"(C) it has substantial equity in school-occupied facilities,
the acquisition of which was the direct cause of its failure
to meet the current operating ratio requirement.";
(10) in section 498(f), by inserting after the second sentence
the following: "The Secretary may establish priorities by which
institutions are to receive site visits, and may coordinate such
visits with site visits by States, guaranty agencies, and accrediting bodies in order to eUminate duplication, and reduce
administrative burden.";
(11) in section 498(h)(l)(B), by amending clause (iii) to
read as follows:
"(iii) the Secretary determines that an institution that
seeks to renew its certification is, in the judgment of the
Secretary, in an administrative or financial condition that
may jeopardize its ability to perform its financial responsibilities under a program participation agreement. ";
(12) in section 498, by amending subsection (i)(l) to read
as follows:
"(i) TREATMENT OF CHANGES OF OWNERSHIP. —(1) An eligible
institution of higher education that has had a change in ownership
resulting in a change of control shall not qualify to participate
in programs under this title afi^r the change in control (except
as provided in paragraph (3)) unless it establishes that it meets
the requirements of section 481 (other than the requirements in
subsections (b)(5) and (c)(3)) and this section after such change
in control.";
(13) in section 498(i)(3), by amending subparagraph (A)
to read as follows:
"(A) the sale or transfer, upon the death of an owner
of an institution, of the ownership interest of the deceased
in that institution to a family member or to a person holding
an ownership interest in that institution; or";
(14) in section 498, by amending subsection (j)(l) to read
as follows:
"(j) TREATMENT OF BRANCHES. —(1) A branch of an eligible
institution of higher education, as defined pursuant to regulations
of the Secretary, shall be certified under this subpart before it
may participate as part of such institution in a program under
this title, except that such branch shall not be required to meet
the requirements of sections 481(b)(5) and 481(c)(3) prior to seeking
such certification. Such branch is required to be in existence at
least 2 years prior to seeking certification as a main campus or
free-standing institution. "; and
(15) in section 498A(e), by striking "Act," and inserting
"Act".
(j) AMENDMENTS TO TITLES V THROUGH XII OF THE ACT.—
Titles V through XII of the Act (20 U.S.C. 1101 et seq.) are
amended—
(1) in section 505(b)(2)(D)(iii), by striking the period and
inserting a semicolon;
(2) in section 525, by amending subsection (c) to read
as follows:
"(c) WAIVERS. —For purposes of giving special consideration
under section 523(d), a State may waive the criteria contained
in the first sentence of subsection (b) for not more than 25 percent
of individuals receiving Paul Douglas Teacher Scholarships on or
after July 1, 1993. ";
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