§ 22.1-324. Application for license; information required; student guaranty provisions
A. To obtain a license to operate a school, an application, certified as true and correct, shall be filed with the Board upon forms prepared and furnished by it setting forth information deemed necessary by the Board.
B. Each school shall submit and maintain a guaranty instrument payable to the Commonwealth of Virginia and conditioned to protect the contractual rights of students and other contracting parties. The amount of such bond shall be established in the Board's regulations. The minimum guaranty instrument for any school shall be $1,000. The word "students" as used in this subsection means all enrolled students.
(Code 1950, § 22-330.22; 1970, c. 665; 1977, c. 444; 1980, c. 559; 1988, c. 574; 1993, c. 351; 2004, c. 991.)
Sections: Previous 22.1-319 22.1-320 22.1-321 22.1-322 22.1-323 22.1-323.1 22.1-323.2 22.1-324 22.1-325 22.1-326 22.1-326.1 22.1-327 22.1-328 22.1-329 22.1-330 NextLast modified: April 3, 2009