FEDERAL · 20 U.S.C. · Chapter 8
Enforcement
Current through Pub. L. 119-102
(a)After notice and an opportunity for a hearing, the Secretary is authorized to terminate and recover any grant awarded under this subchapter if the University—
(1)withdraws or expends any endowment fund corpus, or any endowment fund income in excess of the amount authorized by section 130aa–3 of this title;
(2)fails to invest its endowment fund corpus or income in accordance with the investment standards set forth in section 130aa–2 of this title; or
(3)fails to account properly to the Secretary concerning investments and expenditures of its endowment fund corpus or income.
(b)If the Secretary terminates a grant under subsection (a), the University shall return to the Treasury of the United States an amount equal to the sum of the original grant or grants under this subchapter 1 plu
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Related
§ 130a
20 U.S.C. § 130a
Source Credit
History
(Pub. L. 98–480, title II, §206, Oct. 17, 1984, 98 Stat. 2247.)
Editorial Notes
Editorial Notes
Codification
This subchapter, the first time it appears in subsec. (b), was in the original "this Act" which was translated as reading "this title", meaning title II of Pub. L. 98–480, Oct. 17, 1984, 98 Stat. 2236, as the probable intent of Congress.
Codification
This subchapter, the first time it appears in subsec. (b), was in the original "this Act" which was translated as reading "this title", meaning title II of Pub. L. 98–480, Oct. 17, 1984, 98 Stat. 2236, as the probable intent of Congress.