19A N.C. Admin. Code 3I.0701

Current through Register Vol. 39, No. 9, November 1, 2024

Section 03I .0701 - BONDS

Prior to license approval, a school shall file with the Division a continuous "cash" or "surety" bond written by a company licensed to do business in North Carolina in the amount of twenty thousand dollars ($20,000) to indemnify any student against loss or damage arising out of the school's breach of contract between the school and the student (Form SBTS-606).

19A N.C. Admin. Code 03I .0701

Authority G.S. 20-324; 20-322; 20-323; 20-324;
Eff. July 2, 1979;
Amended Eff. August 1, 2000; July 1, 1994; May 1, 1987; July 1, 1983;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. September 22, 2018.

Authority G.S. 20-324; 20-322; 20-323; 20-324;
Eff. July 2, 1979;
Amended Eff. August 1, 2000; July 1, 1994; May 1, 1987; July 1, 1983.