Ga. Comp. R. & Regs. 268-10-3-.05

Current through Rules and Regulations filed through November 21, 2024

Rule 268-10-3-.05 - Emergency Action

Immediate suspension may be imposed by a designated GHEAC official on a school or lender when it is determined that the alleged violation is of a magnitude and/or severity to create a likelihood of substantial losses to GHEAC, the U.S. Department of Education, or borrowers. The designated GHEAC official making the determination shall notify the school or lender of the suspension by certified mail, with return receipt requested, of the action and the reasons for same. The effective date of suspension shall be the date the notice is mailed. Limitations on emergency suspension action are as follows:

(a) The emergency action may not exceed 30 days unless a limitation, suspension, or termination proceeding is begun before the emergency period expires. In that event, the action may be extended until the conclusion of the process, including any appeal that may be made to GHEAC.

(b) If a limitation, suspension, or termination proceeding is begun, GHEAC shall provide the school or lender, upon request, an opportunity to demonstrate that the emergency action is unwarranted.

Ga. Comp. R. & Regs. R. 268-10-3-.05

Ga. L. 1987 p. 564 (Ga. Code Ann. 20-3-266).

ER 268-10-3-0.3-.05 was F. Aug. 31, 1992, eff. Aug. 27, 1992, the date of adoption, to remain in effect for a period of 120 days or until the effective date of a permanent Rule covering the same subject matter superseding said ER, as specified by the Agency.

Amended: Permanent Rule entitled "Emergency Action" adopted. F. Nov. 20, 1992; eff. Dec. 10, 1992.