1828                                        LAWS OF MARYLAND                                    Ch. 476

(1)  AN INSTITUTION OPERATING UNDER A CHARTER GRANTED
BY THE GENERAL ASSEMBLY;

(2)  A RELIGIOUS DEGREE-GRANTING INSTITUTION WHICH
CERTIFIES, IN ACCORDANCE WITH PROCEDURES ESTABLISHED BY THE STATE
BOARD FOR HIGHER EDUCATION, THAT IT:

(I)  IS FOUNDED AND OPERATED BY A CHURCH OR
ORGANIZATION OF CHURCHES AS AN INTEGRAL PART OF THE RELIGIOUS
MINISTRY OF THAT CHURCH OR ORGANIZATION;

(II)  OFFERS SECTARIAN INSTRUCTION ONLY DESIGNED
FOR AND AIMED AT PERSONS WHO HOLD OR SEEK TO LEARN PARTICULAR

RELIGIOUS FAITHS OR BELIEFS OF CHURCHES OR RELIGIOUS
ORGANIZATIONS, AND PROVIDES ONLY EDUCATIONAL PROGRAMS FOR
RELIGIOUS VOCATIONS; AND

(III)  STATES ON THE DIPLOMA OR DEGREE THE
RELIGIOUS NATURE OF THE DEGREE;

(3)  A CHURCH OR OTHER RELIGIOUS INSTITUTION OFFERING
A POSTSECONDARY INSTRUCTIONAL PROGRAM LEADING TO A DIPLOMA OR
CERTIFICATE ONLY IF DESIGNED FOR AND AIMED AT PERSONS WHO HOLD OR

SEEK TO LEARN THE PARTICULAR RELIGIOUS FAITH OR BELIEFS OF THAT

CHURCH OR RELIGIOUS ORGANIZATION, AND PROVIDING ONLY EDUCATIONAL
PROGRAMS FOR RELIGIOUS PURPOSES.

(D) (1) EACH INSTITUTION OF POSTSECONDARY EDUCATION
AUTHORIZED TO OPERATE WITHOUT A CERTIFICATE OF APPROVAL UNDER
SUBSECTION (C)(2) AND (3) OF THIS SECTION, SHALL SUBMIT, EVERY 2
YEARS, A FINANCIAL STATEMENT COMPILED BY AN INDEPENDENT
ACCOUNTANT EMPLOYED BY THE INSTITUTION TO THE STATE BOARD FOR
HIGHER EDUCATION.

(2)  SUCH INSTITUTIONS OF POSTSECONDARY EDUCATION MAY
NOT COMMENCE OR CONTINUE TO OPERATE, DO BUSINESS, OR FUNCTION
UNLESS THE STATE BOARD FOR HIGHER EDUCATION DETERMINES ON THE
BASIS OF THE FINANCIAL STATEMENT SUBMITTED BY THE INSTITUTION
UNDER THIS SECTION THAT THE INSTITUTION POSSESSES ADEQUATE
FINANCIAL RESOURCES TO SUPPORT ITS EDUCATIONAL PROGRAM.

(3)  (I) THE STATE BOARD FOR HIGHER EDUCATION SHALL
ADOPT REGULATIONS ESTABLISHING PROCEDURES AND STANDARDS FOR THE
SUBMISSION AND EVALUATION OF THE FINANCIAL STATEMENT SUBMITTED BY
SUCH INSTITUTIONS OF POSTSECONDARY EDUCATION UNDER THIS
SUBSECTION.

(II) ANY INSTITUTION UNDER SUBSECTION (C)(2)
AND (3) DENIED THE RIGHT TO OPERATE HAS THE RIGHT TO JUDICIAL
REVIEW AS PROVIDED BY THE ADMINISTRATIVE PROCEDURE ACT.

(E) NOTHING IN THIS SECTION PRECLUDES A RELIGIOUS

DEGREE-GRANTING INSTITUTION, OR A CHURCH OR OTHER RELIGIOUS

INSTITUTION OFFERING A POSTSECONDARY INSTRUCTIONAL PROGRAM, FROM