Any private postsecondary career school which has been accredited or authorized to award associate degrees and which ceases to meet any of the requirements for accreditation or the awarding of associate degrees shall be notified in writing of the specifics by certified mail and shall be afforded the opportunity for a hearing to show cause why the accreditation or the authorization should not be withdrawn. The board shall adopt and promulgate rules and regulations for the hearing and may utilize a hearing officer to conduct the hearing and to present recommendations, including findings of facts and conclusions of law, to the board for final decision. Following the hearing, if it is determined that the requirements have not been met, the board may withdraw the accreditation or authorization or may require action as a condition of continued accreditation or authorization.