La. Admin. Code tit. 28 § IX-321

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

Section IX-321 - Surety Bonding [Formerly Section 319]

A. New Louisiana domiciled unaccredited institutions are required to post a surety bond issued by a surety authorized to do business in the state of Louisiana in the amount of $10,000 to cover the period of the license. These bonds are intended to protect students in the event of a sudden closure of the institution. Institutions that are also licensed and bonded under provisions set forth by R.S. 17:3141 et seq., need not seek additional bonding.

La. Admin. Code tit. 28, § IX-321

Promulgated by the Department of Education, Board of Regents, LR 19:1554 (December 1993), Amended LR 471295 (9/1/2021).

AUTHORITY NOTE: Promulgated in accordance with R.S. 17:1808.