Current through Reg. 49, No. 49; December 6, 2024
Section 807.13 - Change in Ownership(a) The Agency may consider the addition or deletion of any person defined as an owner under the Act as a change in school ownership. The school may notify the Agency of the change in ownership a minimum of 45 days before the change in ownership to request that the Agency in lieu of a full application accept a partial application.(b) The Agency may require submission of a full application for approval for a change in ownership if: (1) the Agency has a reasonable basis to believe the change in ownership of the school may significantly affect the school's continued ability to meet the criteria for approval; or(2) the school fails to file notice of the change of ownership at least 45 days prior to the ownership transfer.(c) The Agency may require a partial application for approval for a change in ownership if the Agency reasonably believes the change in ownership will not significantly affect the school's continued ability to meet the criteria for approval.(d) The purchaser of a school shall accept responsibility for all refund liabilities.(e) Management Agreements must be disclosed to the Agency. Parties to a management agreement shall be of good reputation and character.40 Tex. Admin. Code § 807.13
The provisions of this §807.13 adopted to be effective August 16, 1998, 23 TexReg 8479; amended to be effective February 24, 2003, 28 TexReg 1651; Amended by Texas Register, Volume 47, Number 47, November 25, 2022, TexReg 7922, eff. 11/28/2022