(a) The Arkansas Higher Education Coordinating Board may act as the legal entity, governing board, and receiver of all property for any institution not accredited by an accrediting agency recognized by the United States Department of Education and seeking merger or consolidation with an existing institution of higher education during the interim period when approval of institutional change from an accrediting agency recognized by the United States Department of Education is being sought.
(b) Upon approval by an accrediting agency recognized by the United States Department of Education, all records, personnel, property, unexpended balances, and all legal authority shall pass from the Arkansas Higher Education Coordinating Board to the legal entity governing the newly merged or consolidated institution.
(c) The Arkansas Higher Education Coordinating Board may provide accreditation for a period of up to six (6) years to an institution governed by the Arkansas Higher Education Coordinating Board.
(d)
(1) Until the Arkansas Higher Education Coordinating Board approves associate of applied science degrees for the institutions identified in § 6-53-301(a), no change in the educational mission of those institutions is intended or authorized by this chapter.
(2) The Career Education and Workforce Development Board shall show cause why accreditation of an institution should not be continued and provide twelve (12) months' notice of any action to withdraw accreditation of an institution.
(e) A postsecondary vocational-technical school other than those listed in §§ 6-53-301 and 6-53-404 that receives approval from the state board and the General Assembly to begin the process of consolidation or merger with an existing institution of higher education shall be governed by the Arkansas Higher Education Coordinating Board under this section and § 6-53-302(f), (h), and (i) pending approval of the merger or consolidation from an accrediting agency recognized by the United States Department of Education.
(f) If a consolidation plan is not approved by an accrediting agency recognized by the United States Department of Education, § 6-53-301(f) shall apply to the postsecondary vocational-technical school or technical college seeking merger or consolidation with an institution of higher education.
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