Page:United States Statutes at Large Volume 107 Part 3.djvu/542

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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. ";