W. Va. Code R. § 133-35-8

Current through Register Vol. XLI, No. 50, December 13, 2024

Section 133-35-8 - Change of School Ownership

8.1. A school must notify the Commission at least thirty (30) days in advance of the change of ownership control. Within thirty (30) days of such notification, the Commission will notify the school of permit status.

8.2. When a school is located in this state and has a change of ownership control and the new ownership control is outside of the immediate family of the previous owner, the school may continue to operate under the present permit. However, before the solicitation of students can continue, the school shall submit to the Commission the following:

8.2.1. A fully executed surety bond in the amount of fifty thousand dollars ($50,000).

8.2.2. The names, addresses, and corporate titles of all persons or other entities having a financial interest in the school, and the names and addresses of any other schools in which these persons or entities have or have had a financial interest.

8.2.3. A revised listing of all programs to be offered if changes were made with new ownership.

8.2.4. An application for each representative of the school who will be soliciting students.

8.3. If the school is located outside this state, the school must show evidence of compliance with the laws and regulations in the state where the school is located. In addition, before the solicitation of students continues in this state, the school must submit the following:

8.3.1. A fully executed surety bond in the amount of fifty thousand dollars ($50,000);

8.3.2. An application for each representative of the school that will be soliciting students in West Virginia;

8.3.3. A revised listing of all programs to be offered if changes are made with new ownership; and

8.3.4. The names, addresses, and corporate titles of all persons or other entities having a financial interest in the school.

W. Va. Code R. § 133-35-8