Applicability of chapter

Sec. 1. This chapter applies to a postsecondary educational institution (no part of the net earnings inure to the benefit of any private shareholder or individual) that: (1) provides: (A) an educational program for which it awards a baccalaureate or more advanced degree; or (B) at least a two (2) year program that is acceptable for full credit towards a baccalaureate or more advanced degree; and (2) is accredited by a national accrediting agency or association or, if not so accredited, a postsecondary educational institution whose credits are accepted, on transfer, by at least three (3) accredited postsecondary educational institutions for credit on the same basis as if transferred from a postsecondary educational institution that is accredited. [Pre-2007 Higher Education Recodification Citation: 20-12-15-1(a).] As added by P.L.2-2007, SEC.258.