H.F. 387 Section 1. Section 261G.4, subsections 1 and 2, Code 2015, 1 are amended to read as follows: 2 1. Notwithstanding any other provision of law to the 3 contrary, a participating nonresident institution shall not be 4 required to register under chapter 261B or to comply with the 5 registration and disclosure requirements of chapter 261 or 261B 6 or section 714.17, subsections 2 and 3 , or sections 714.18 , 7 714.20 , and 714.21 , and 714.23, or section 714.24, subsections 8 1, 2, 3, 4, and 5 , or section 714.25, if the provisions of an 9 interstate reciprocity agreement prohibit such registration or 10 compliance. 11 2. Notwithstanding any other provision of law to the 12 contrary, a participating resident institution shall be 13 required to register under chapter 261B or to comply with the 14 registration and disclosure requirements of chapter 261 or 261B 15 or section 714.17, subsections 2 and 3 , or sections 714.18 , 16 714.20 , and 714.21 , 714.23, or section 714.24, subsections 1, 17 2, 3, 4, and 5 , or section 714.25, if the provisions of the 18 interstate reciprocity agreement require such registration or 19 compliance. 20 EXPLANATION 21 The inclusion of this explanation does not constitute agreement with 22 the explanation’s substance by the members of the general assembly. 23 This bill allows the provisions of an interstate reciprocity 24 agreement entered into and administered, or recognized, by the 25 college student aid commission to override the registration and 26 disclosure provisions of Code sections 714.23, which regulates 27 postsecondary educational program refund policies, and 714.25, 28 which establishes disclosure requirements for proprietary 29 schools, as those sections apply to participating postsecondary 30 educational institutions. 31 Code section 261G.6 provides that Code chapter 261G shall 32 not be construed to affect the attorney general’s authority to 33 enforce the consumer fraud Act pursuant to Code section 714.16. 34 -1- LSB 1245HV (1) 86 kh/sc 1/ 1