§ 130aa-4. — Enforcement.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 20USC130aa-4]
TITLE 20--EDUCATION
CHAPTER 8--HOWARD UNIVERSITY
SUBCHAPTER II--ENDOWMENT
Sec. 130aa-4. Enforcement
(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) of this
section, 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\ plus any income earned thereon. The Secretary may
direct the University to take such other appropriate measures to remedy
any violation of this subchapter and to protect the financial interest
of the United States.
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\1\ See Codification note below.
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(Pub. L. 98-480, title II, Sec. 206, Oct. 17, 1984, 98 Stat. 2247.)
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.
