(A) Grant recipients shall return to the board any unexpended grant funds that remain at the end of the grant period.
(B) Unexpended grant funds shall also be promptly returned to the board upon receipt of notice that any of the following have occurred:
(1) The grantee has failed to spend the grant funds according to the grant proposal approved by the board;
(2) The grantee has failed to comply with any provision included in the acknowledgment of terms as required by rule 4723-25-14 of the Administrative Code; or
(3) The grantee no longer maintains its status as a nurse education program approved by the board under section 4723.06 of the Revised Code, or by the board of regents under section 3333.04 of the Revised Code.