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(1) "Cooperating employer" means a public or private entity which, as part of a work experience and career exploration program offered through an institution of higher education, provides interns with training and work experience in activities related to the entity's ongoing business activities.
(2) "Institution of higher education" means any component of the state system of higher education as defined under Section 53B-1-102 that is authorized by the board to offer internship programs, and any private institution of higher education which offers internship programs under this part.
(3) "Intern" means a student enrolled in a work experience and career exploration program under Section 53B-16-402 that is sponsored by an institution of higher education, involving both classroom instruction and work experience with a cooperating employer, for which the student receives no compensation.
(4) "Internship" means the work experience segment of an intern's work experience and career exploration program sponsored by an institution of higher education, performed under the direct supervision of a cooperating employer.