- (a) As used in this section, "fund" means the postsecondary credit bearing proprietary educational institution authorization fund established by subsection (b).
- (b) The postsecondary credit bearing proprietary educational institution authorization fund is established.
- (c) The fund shall be administered by the commission (as defined in IC 21-18.5-2-7 .).
- (d) Money in the fund at the end of a state fiscal year does not revert to the general fund.
- (e) All fees collected by the board for proprietary education under this chapter shall be deposited in the fund.
- (f) Money in the fund shall be used by the board for proprietary education to administer this chapter.
As added by P.L.107-2012, SEC.58. Amended by P.L.13-2013, SEC.63; P.L.273-2013, SEC.28.