In any Y2K action in which punitive damages are permitted by applicable law, the defendant shall not be liable for punitive damages unless the plaintiff proves by clear and convincing evidence that the applicable standard for awarding damages has been met.
15 U.S. Code § 6604 - Punitive damages limitations
(a) In general
(b) Caps on punitive damages
(1) In generalSubject to the evidentiary standard established by subsection (a), punitive damages permitted under applicable law against a defendant described in paragraph (2) in a Y2K action may not exceed the lesser of—
(2) Defendant describedA defendant described in this paragraph is a defendant—
(c) Government entities
(d) Institutions of higher education
(1) In general
(2) ExceptionParagraph (1) shall not apply to an institution of higher education if the Y2K failure in the Y2K action occurred in a computer-based student financial aid system of that institution of higher education, and the institution—
(Pub. L. 106–37, § 5, July 20, 1999, 113 Stat. 192; Pub. L. 106–113, div. B, § 1000(a)(4) [title III, § 311], Nov. 29, 1999, 113 Stat. 1535, 1501A–265.)
 So in original. Probably should be “institution”.
1999—Subsec. (d). Pub. L. 106–113 added subsec. (d).