Section 187 - Application requirements and procedures(a) A person desiring to obtain a certificate of approval must submit a verified application to the Department setting forth all of the following information:(1) The name of the postsecondary institution and ownership and controlling officers' information.(2) The specific courses, programs of courses, or certificates or degrees that will be offered.(3) The facility or facilities where instruction will be given, including all websites, applications, or technology through which courses will be offered.(4) The educational and teaching qualifications of instructors and administrators.(5) The defined mission with goals and objectives.(6) The financial resources and records.(7) The need to establish operations in the State.(8) Insurance to maintain the postsecondary institution's solvency in case of loss by fire, fraud, or other causes to protect the postsecondary institution in liability matters, and to assure the postsecondary institution's continuity of operation.(9) Funding in the event of closure.(11) Organizational pattern and administrative structure.(13) Admission, retention, and graduation standards.(14) Evaluation of faculty, program, and facilities and resources.(17) The address of the person's registered office and the name and address of the person's registered agent for service of process in the State.(18) The disclosure of any criminal history and violations of local, state, or federal law.(b) The application must also contain all of the following commitments:(1) The person will conduct the postsecondary institution in accordance with federal, state, and local law, and the rules and regulations established by the Department.(2) The person has appointed and will maintain a registered office and registered agent for service of process in the State.(3) The person has and will maintain sufficient funds or a surety bond issued by a company authorized to do business in the State in the amount required by the Department in its rules and regulations that will protect the contractual rights of students.(4) The person has and will maintain a teach-out plan that includes any information required by the Department and states all of the following:a. The postsecondary institution will make all reasonable efforts to ensure that any closure of the postsecondary institution complies with the requirements of § 192 of this title.b. Any institutional financial aid agreement offered to a student must contain language stating that, in the event of a closure that is not in compliance with § 192 of this title, the institutional debt will be void and will not be recovered, collected, or enforced.(5) The person has and will maintain a cancellation policy which must provide a full refund of moneys paid by a student if the student's enrollment was procured as a result of any misrepresentation in advertising, promotional materials of the postsecondary institution, or representations by the person or a representative of the postsecondary institution or other violation of § 193 of this title.(6) The person will permit the Department to inspect the postsecondary institution and to make available to the Department information pertaining to the activities required for the administration of this subchapter.(7) All advertising and solicitation, whether direct or indirect, will be free from misrepresentation, deception, or fraud, and no fraudulent or deceptive statements will be made as to possible future employment opportunities or wage expectations.(c) The application must be signed by the person under oath.(d) The application must be submitted to the Department with the applicable fee.(e) The Department's regulations shall provide the criteria to be met for approval and the procedures to be followed by an applicant for a certificate of approval.Added by Laws 2021, ch. 401,s 2, eff. 8/4/2022.