N.Y. Comp. Codes R. & Regs. tit. 8 § 2006.5

Current through Register Vol. 46, No. 25, June 18, 2024

Section 2006.5 - Causes for formal sanctions

(a) Limitation or suspension. The president may initiate a limitation or suspension action upon the receipt of sufficient evidence indicating that an institution is:

(1) accepting award funds on behalf of students who are enrolled in unapproved programs, or programs which are not being conducted as approved by the commissioner, or on behalf of students who are otherwise ineligible for the award granted;

(2) administering financial aid programs in a manner which tends to abuse, disadvantage or defraud participating students or the corporation;

(3) failing to fulfill its institutional responsibilities as prescribed in section 2205.3 of this Title; or

(4) otherwise failing to comply with applicable law, regulations or agreements.

(b) Termination. The president may initiate a termination action upon the receipt of sufficient evidence indicating that an institution has:

(1) committed knowing fraud;

(2) acted with gross or wanton negligence in the administration of the awards programs;

(3) violated a statute or regulation, a result of which substantial loss of student, or government funds has occurred; or

(4) had a history of repeated violations of the same or different statutes or regulations causing loss of student or government funds.

N.Y. Comp. Codes R. & Regs. Tit. 8 § 2006.5