Standards for educational institutions; establishment; revocation of powers to grant degrees

Section 30A. The board of higher education shall establish standards relative to faculty, equipment, courses of study, financial organization, facilities, physical plant and leadership which shall apply to any educational institution for which said council has approved the certificate of organization or an article of amendment under the provisions of section thirty. If said board has reason to believe that any such institution does not comply with such standards it may, after a hearing, suspend or revoke the power of such institution to grant degrees. Proceedings under this section shall be deemed to be adjudicatory proceedings as defined in section one of chapter thirty A and shall be subject to the provisions of said chapter thirty A, except that (1) pending a final decision by the court the institution shall continue to have the power to grant degrees, (2) no suspension or revocation under this section shall become effective until the time for filing a petition for review has expired and (3) the council shall forthwith notify the state secretary upon any suspension or revocation under this section becoming effective.