Page:United States Statutes at Large Volume 106 Part 1.djvu/663

 PUBLIC LAW 102-325—JULY 23, 1992 106 STAT. 631 independent students, the institution shall use a reasonable proportion of the funds available under this section for financial aid services during times and in places that will most effectively accommodate the needs of such students/'. SEC. 494. REPEAL. Section 489A of the Act is repealed. 20 USC 1096a. SEC. 495. CRIMINAL PENALTIES. Section 490 of the Act (20 U.S.C. 1097) is amended to read as follows: "(a) IN GENERAL. — Any person who knowingly and willfully embezzles, misapplies, steals, obtains by fraud, false statement, or forgery, or fails to refund any funds, assets, or property provided or insured under this title or attempts to so embezzle, misapply, steal, obtain by fraud, false statement or forgery, or fail to refund any funds, assets, or property, shall be fined not more than $20,000 or imprisoned for not more than 5 years, or both, except if the amount so embezzled, misapplied, stolen, obtained by fraud, false statement, or forgery, or failed to be refunded does not exceed $200, then the fine shall not be more than $5,000 and imprisonment shall not exceed one year, or both. "(b) ASSIGNMENT OF LOANS.—Any person who knowingly and willfully makes any false statement, mmishes any false information, or conceals any material information in connection with the assignment of a loan which is made or insured under this title or attempts to so make any false statement, furnish any false inforination, or conceal any material information in connection with such assignment shall, upon conviction thereof, be fined not more than $10,000 or imprisoned for not more than one year, or both. "(c) INDUCEMENTS TO LEND OR ASSIGN.— Any person who knowingly and willfully makes an unlawful payment to an eligible lender under part B or attempts to make such unlawful payment as an inducement to make, or to acquire by assignment, a loan insured under such part shall, upon conviction thereof, be fined not more than $10,000 or imprisoned for not more than one year, or both. "(d) OBSTRUCTION OF JUSTICE. —Any person who knowingly and willfully destroys or conceals any record relating to the provision of assistance under this title or attempts to so destroy or conceal with intent to defraud the United States or to prevent the United States from enforcing any right obtcdned by subrogation under this part, shall upon conviction thereof, be fined not more than $20,000 or imprisoned not more than 5 years, or both.". SEC. 496. ADVISORY COMMITTEE ON STUDENT FINANCIAL ASSIST- ANCE. (a) INDEPENDENT CONTROL.—Section 491(b) of the Act (20 U.S.C. 1098) is amended by inserting after the first sentence the following: "Notwithstanding Department of Education policies and regulations, the Advisory Committee shall exert independent control of its budget allocations and expenditures, personnel decisions and processes, procurements, and other administrative and management functions. The Advisory Committee's administration and management shall be subject to the usual and customary Federal audit procedures.". (b) FUNCTIONS; MEMBERSHIP.— Section 491(d) of the Act is amended—

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