Rule 10-201-3.9 - Institution ClosureA. Planned Closure (teach-out plans and agreements) Approval will be withdrawn after all actions involved in the closure have been completed. When an institution plans a closing, institution officials must communicate their plan to the Commission and all parties concerned including current and former students, institution faculty and staff, accrediting bodies, Closed School Unit at the U.S. Department of Education (where federal financial aid is involved), and all affected lending agencies. It is advisable that the institution provide each current and former student with a copy of their final transcript and review with them their financial records and tuition refund information.
a. When an authorized postsecondary educational institution proposes to discontinue its operation, the institution shall immediately notify the Commission. The notification must include, but may not be limited to: i. Reason for the closure and supporting evidence;ii. Anticipated official date to terminate teaching activity (final class date);iii. Timeline showing the steps to be taken for an orderly closure of the institution;iv. Ending date of present term;v. A listing by name of all students in all programs with contact information, programs of enrollment, estimated completion dates;vi. Status of all current refunds due or the amount of unearned tuition paid by each student and for which the institution is obligated;vii. Documentation of notice sent to students who have paid any tuition or fees toward future enrollment in a program of study or individual course informing them of the closure and refund information;viii. Documentation of verified agreement with one or more local institutions able to provide sound education to all students in all programs;ix. Proof of notice to students of the closing and instructions for obtaining their records and transcripts;x. Documentation of agreement for disposition and servicing of all student records as required in 4.19 and 3.10 with contact name, complete address, email, and phone number, and instructions as to how students may obtain their records;xi. Updated demographical data;xii. Demonstration that current education obligations by the institution will be met on behalf of the presently enrolled students;xiii. Copy of catalog; andxiv. Certified copy of the petition for bankruptcy if such a petition is filed.b. An institution that will cease operations shall maintain sufficient and qualified faculty, staff, and equipment to teach all courses to all currently enrolled students, regardless of the size of the class, until such time as the institution closes.B. Unplanned Closure In the event of an unplanned closure (without proper notification and process), the Commission will immediately revoke approval of the institution upon learning of the unplanned closure. Such a revocation status shall be maintained as part of the Commission closure file on the institution and any individuals directly involved, including, but not limited to, the owners, incorporators, chief executive officer, director, and board chair.
10 Miss. Code. R. 201-3.9
Miss. Code Ann. § 37-101-241 (1972, as amended).