La. Admin. Code tit. 28 § CLV-1111

Current through Register Vol. 50, No. 9, September 20, 2024

Section CLV-1111 - Surety Bonds

A. Any qualified school that receives more than $50,000 in scholarship donations from a school tuition organization shall demonstrate its financial viability by filing, prior to the start of a school year, a surety bond payable to the school tuition organization in an amount equal to the aggregate amount of donations expected to be received during the school year or by filing, prior to the start of a school year, financial information with the qualified school tuition organization demonstrating its financial viability. However, a qualified school that has been in business for more than five years shall not be required to post a surety bond.

La. Admin. Code tit. 28, § CLV-1111

Promulgated by the Board of Elementary and Secondary Education, LR 39:1028 (April 2013).

AUTHORITY NOTE: Promulgated in accordance with R.S. 47:6301.