The university shall not be eligible to receive payments of state grants from the state general fund unless it is currently a member in good standing of an accrediting agency or association recognized by the United States department of education in the database maintained by such department.

L. 1961, ch. 365, § 9; L. 1991, ch. 225, § 6; L. 1999, ch. 147, § 66; L. 2025, ch. 14, § 3; July 1.