Sec. 61.309.  REVOCATION OF CERTIFICATE OF AUTHORITY.  The board may revoke a certificate of authority to grant degrees at any time if it finds that:
(1)  any statement contained in an application for a certificate is untrue;
(2)  the institution has failed to maintain the faculty, facilities, equipment, and programs of study on the basis of which the certificate was issued;
(3)  advertising utilized on behalf of the institution is deceptive or misleading;  or
(4)  the institution has violated any rule or regulation promulgated by the board under the authority of this subchapter.
Added by Acts 1975, 64th Leg., p. 1867, ch. 587, Sec. 1, eff. June 19, 1975.