38 U.S.C. § 3699B: Treatment of certain for-profit educational institutions

(a) In General.—In the case of any for-profit educational institution that is converted to a nonprofit educational institution, the State approving agency or the Secretary when acting as a State approving agency shall conduct annual risk-based surveys of the institution during the three-year period beginning on the date on which the educational institution is so converted. (b) Risk-based Survey Defined.—In this section, the term “risk-based survey” means the risk-based survey developed under section 3673A of this title.