Section 31A. No educational institution chartered, located, offering courses, or otherwise doing business within the commonwealth, shall award degrees within the commonwealth unless authorized to do so by the commonwealth; nor shall any educational institution chartered, incorporated or organized in another state conduct within the commonwealth any courses available to residents of the commonwealth leading to the award of a degree, unless such educational institution has received the approval of the commonwealth for such courses. The board of higher education shall be responsible for the implementation of the provisions of this section.