Sec. 26. (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.