(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.
