Section 2790.20  Definitions

            "Action" – An administrative proceeding conducted under this Part.

            "Funds" – Any money, commitments to provide money, and commitments of insurance or reinsurance provided under any or all programs.

            "Hearing Officer" –  An impartial person, appointed by the Executive Director or his or her designee, with no prior involvement with the facts giving rise to the limitation, suspension or termination action, who is:

            an attorney who has been admitted to practice law in Illinois for at least five years preceding appointment by the Executive Director and possesses those additional qualifications as are necessary to obtain appointment as an arbitrator pursuant to Section 2-1003A of the Mandatory Arbitration System in Illinois [735 ILCS 5/2-1003A]; or

            a person who is an arbitrator qualified by the American Arbitration Association; or

            any other person who meets the qualifications for the position of Administrative Law Judge for the Federal Government.

            "Institution" – For purposes of this Part, any educational or lending institution which participates in any ISAC program(s).

            "ISAC Official" – Any official of ISAC to whom the Executive Director has delegated the responsibility of initiating and pursuing an action under this Part.

            "Lender" – Defined by Section 435(d) of the Higher Education Act of 1965, as amended (20 USCA 1085(d)).

            "Limitation" – The continuation of an applicant's or an institution's eligibility for any or all programs subject to compliance with special conditions or restrictions which have been established by ISAC as necessary for the institutions initial or continued participation in ISAC programs.

            "School" – An institution eligible to participate in the programs established by the Higher Education Act of 1965, as amended, including an institution of higher education (as defined in 34 CFR 600.4), a proprietary institution of higher education (as defined in 34 CFR 600.5), and a postsecondary vocational institution (as defined in 34 CFR 600.6).

            "Suspension" – The removal of an applicant's or an institution's eligibility for any or all ISAC programs for a specified period of time or until the problem that initiated the limitation, suspension or termination proceeding(s) is resolved.

            "Termination" – The unqualified removal of an applicant's or an institution's eligibility for any or all programs for an indefinite period of time, but in no event less than 18 months.

(Source:  Amended at 23 Ill. Reg. 7581, effective July 1, 1999)