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(1) the postsecondary school fails to comply with a provision of this chapter or a rule made under this chapter; or
(2) for a postsecondary school that submits a registration form under Section 13-34a-204, the postsecondary school:
(a) intentionally omits a material fact from the postsecondary school's registration form; or
(b) includes a material fact in the postsecondary school's registration form that the postsecondary school knows or should have known is false, deceptive, inaccurate, or misleading.