Section 20.17.040. Status changes.

	(a)  In the event of a change in senior management of an institution, a change in the mission, educational program, or program delivery methods of an institution, or a change of address of the school or any of its facilities, the institution and its agents shall notify the commission in writing of the change at least one calendar quarter before the effective date of the change or as soon as plans for change are known.  
	(b)  A change described in (a) of this section, or any departure from program information specified in the institution's most recent authorization application must be approved by the commission before implementation, with the exception of a change in curriculum or instructional delivery method that is solely to conform with updates to previously approved instructional technologies or materials.  
	(c)  An institution with an authorization to operate shall notify the commission before entering into contracts or negotiations related to sale of the institution. At least 30 days before the effective date of a change of ownership of an institution, the new owner shall submit a new application for authorization to operate. The completed application must include the required fee under 20 AAC 17.055, evidence of bonding or other security issued in the name of the new owner, financial statements for the new owner, the documentation required for a request for renewal of authorization, a description of any changes to be made at the institution as a result of the change in ownership, the effective date of the change in ownership, and a statement of the assets and obligations that will be transferred. Upon determination that the application is complete, the commission staff shall place the application on the agenda for the next commission meeting. An institution that administers financial aid on behalf of the commission must have a change in ownership approved in order to be eligible to continue to administer that aid. Upon approval by the commission, the commission will issue to the institution an authorization to operate.  
	(d)  In the event of a change of ownership for an institution that is authorized to participate in federal student aid programs under 20 U.S.C. 1001 - 1155 (Title IV of the Higher Education Act of 1965), the institution shall submit evidence of continued authorization by the secretary of the United States Department of Education, including copies of application materials submitted to the United States Department of Education for continued authorization after the change of ownership.  
	(e)  For the purposes of this section, "ownership" means a controlling interest held by a person, including a partnership or corporation, in an educational institution.  

Authorities

14.48.050;14.48.060;14.48.070

Notes

Reference

20 AAC 17.055

Authority

AS 14.48.050 AS 14.48.060 AS 14.48.070

History

Eff. 12/30/77, Register 64; am 3/15/85, Register 93; am 6/27/87, Register 102; am 10/11/95, Register 136; am 3/13/96, Register 137; am 8/26/98, Register 147; am 4/20/2000, Register 154; am 1/30/2003, Register 165; am 12/31/2005, Register 176; am 11/24/2007, Register 184; am 12/29/2010, Register 196