Section 9-7-3-3.25 - CHANGES DURING THE TWO-YEAR LICENSURE PERIODA. The commission must be notified in writing, within thirty (30) days of changes in any of the following:a. Ownership of an institution Certificates of Registration are not transferable. In the event of a change of ownership of a registered institution, the new owner must apply for a Certificate of Registration within thirty (30) days. If registration of the institution is granted to the new owner, the Certificate of Registration becomes valid upon the commission's receipt of legal verification of the change of ownership.
b. Chief Operating Officer (Director) of an institutiond. Agents of an institutione. Financial stability of an institutionf. An institution's loss of eligibility for student financial aid programsg. A Cohort Default Rate greater than 19%l. Job placement servicesn. Major instructional equipmentB. An institution must immediately notify the Commission if it is subject to any investigative action, complaint, show-cause, or disciplinary matter with an accrediting, state, or federal agency.C. In the event that an institution wishes to cancel or surrender an active certificate of registration without closure of the facility, the commission must be provided with the following at least sixty (60) days prior to the requested day for cancelation or surrender: a. Documentation that the institution no longer meets the requirements for registration;b. Evidence that all currently enrolled Mississippi students have been notified in writing of the facility's request to cancel the authorization in Mississippi; andc. The institution and its owners must submit payment of any and all fees due to the commission as of the date of cancelation or surrender of the certificate of registration prior to approval.D. The institution is responsible for providing the commission with permanent records be defined as student transcripts. Copies of diplomas or certificates will also be accepted as part of permanent records.9 Miss. Code. R. § 7-3-3.25