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 that they place on Provisional Status to additional oversight measures that the state deems necessary for the purposes of ensuring SARA requirements are met regarding program quality, financial stability, and consumer protection.
- States may place institutions on Provisional Status at any time the specified conditions* occur.
- Institutions participating with 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 Policy Manual, Sections 3.2 and 3.3.