Under certain limited and specified circumstances*, a SARA member state may approve an institution to participate (or continue to participate) in SARA on “Provisional Status”.
- States may subject institutions it approves on Provisional Status to additional oversight measures the state considers necessary for purposes of ensuring SARA requirements are met regarding program quality, financial stability and consumer protection.
- In no case may an institution participate in SARA on Provisional Status for longer than two years.
- States may place institutions on Provisional Status at any time the specified conditions* occur.
- Institutions participating on Provisional Status are so designated on NC-SARA’s website.
* Detailed information about Provisional Status, including the conditions that enable a SARA member state to assign that designation, are found in the SARA Manual, Sections 3.2 and 3.3.