Section 9-7-3-3.27 - CLOSING OF A REGISTERED INSTITUTIONA. In the event that an institution closes a facility:a. The commission will issue the institution a temporary certificate of registration for the duration the teach-out.b. The commission must be provided within sixty (60) days of the decision to close:i. The official or anticipated closing date.ii. A reason for the closure with supporting evidence (where applicable).iii. Evidence of the development of a method to assist students with completion of their programs of study and individual courses with written agreements with other institutions that may provide part or all of a train-out.iv. A timeline showing the steps to be taken for an orderly closure of the institution.v. A list of all currently enrolled students with contact information and anticipated graduation dates.vi. Evidence that all currently enrolled students have been notified in writing of the facility's closure and have been provided written indication of where they may obtain any of their records.vii. Evidence of disposition of student records, with contact information for obtaining those records post closure.viii. Evidence of notice sent to all students who have paid any tuition or fees toward future enrollment in a program of study or individual course informing them of the closure, and refund information. If an institution files a bankruptcy petition, a certified copy of the petition must be lodged with the commission.
B. Commission may deny an application if the applicant was an owner, senior administrator, or governing board member of an institution that closed without providing a teach-out or refunds to students matriculating at the time of closure or had unpaid fees upon a closure of registered institution.C. An institution and its owners are jointly and separately responsible to arrange at their expense for the storage and safekeeping of all student records required to be maintained and destruction of records not required to be maintained. This includes paying the costs of the transfer of records to the Commission or third party repository and for the costs of maintaining the records.D. All student transcripts must be submitted in electronic format on a travel drive or other secure means to the Commission. Student records should be organized using the following naming convention: student last name_first name_school program_last 4 digits of the Social Security #
9 Miss. Code. R. § 7-3-3.27