(1) The Arkansas Higher Education Coordinating Board may approve the withdrawal or withholding of state financial and administrative support of any institution in the system under the following conditions:(1) If an institution fails or refuses to maintain prescribed standards of administration or instruction; or(2) If an institution fails to achieve accreditation within the time limits prescribed by this chapter.
(1) If an institution fails or refuses to maintain prescribed standards of administration or instruction; or
(2) If an institution fails to achieve accreditation within the time limits prescribed by this chapter.