(1) As used in this section, "institution of higher education" means the same as that term is defined in Section 53H-1-101.
(2) The division may execute an interstate reciprocity agreement that is:
(a) for purposes of state authorization in accordance with 34 C.F.R. Sec. 600.9; and
(b) for the benefit of:
(i) postsecondary schools in the state; or
(ii)
(A) postsecondary schools in the state; and
(B) institutions of higher education.
(3) If the division executes an interstate reciprocity agreement described in Subsection (2) that includes institutions of higher education, the Utah Board of Higher Education may make rules in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, that:
(a) implement the reciprocity agreement; and
(b) relate to institutions of higher education.