(a) All prospective institutions shall notify the Department in the manner and form prescribed by the Department prior to commencing operation, soliciting students or enrolling any students in any manner in Wyoming.
(b) Notification shall be in the manner and form prescribed by the Department, but shall at a minimum include the following: - (i) A performance bond or letter of credit in the amount of ten thousand dollar ($10,000) that is approved as to form by the Attorney General. The following applies to any performance bond or letter of credit obtained for purposes of this subsection:
- (A) The performance bond or other form of security shall be maintained continuously while operating as a prospective institution.
- (B) The Department shall be the custodian of all bonds and other securities filed under this Section and may render administrative, but not legal assistance, to all aggrieved persons who may be entitled to relief under the bond.
- (C) A finding by the Department that any institution practiced fraud, made any fraudulent representation, or violated any statute, rule or regulation relating to the application for registration or operation of the institution may result in forfeiture of the full amount of the bond and the inability of the institution to obtain registration.
- (ii) Official documentation or other verification of accreditation by an accrediting association recognized by the United States Department of Education
- (iii) Identification of the business structure to be utilized (i.e. partnership, limited liability, corporation etc.);
- (iv) Identification of a registered agent as required by the Wyoming Secretary of State's Office for business registration purposes;
- (v) Anticipated timeline for application to the Department for registration;
- (vi) Identification of any facilities necessary for operation;
- (vii) General description of courses to be offered;
- (viii) Identification of prospective student population, by type and number;
- (ix) List of business contacts located in Wyoming; and,
- (x) Description of financial feasibility.
(c) Notification of the Department by prospective institutions does not constitute registration. Prospective institutions shall not communicate in such a manner that would lead to the conclusion that the institution is in any way registered or licensed by the Department prior to complying with Section 7 of these Rules and Regulations and obtaining official documentation from the Department that indicates such a status.
(d) Within ten (10) business days, the Department shall respond to a prospective institution with a letter which indicates one of the following: - (i) The prospective institution may proceed with application for registration as an accredited private degree granting post secondary education institution in accordance with Section 7 of these Rules;
- (ii) Additional information is necessary prior to proceeding with registration; or,
- (iii) The prospective institution may not continue with application for registration under Chapter 30. In this event, the Department shall state the reason why Chapter 30 is not applicable.
- (iv) In no event shall a prospective institution operate or do business in the state of Wyoming in excess of three (3) calendar months after notification to the Department without obtaining registration as a private degree granting post secondary education institution in accordance with Section 7 of these Rules.
206-30 Wyo. Code R. § 30-6