Section 16-1207. AGENT'S SURETY BOND

 

1207.1No agent's permit (or renewal permit) shall become effective until the applicant for the permit has filed with the Department a corporate surety bond or other security approved by the Department.

 

1207.2The corporate surety bond shall be payable to the District, and shall be conditioned upon observance of all requirements of this chapter.

 

1207.3Any student, or the student's parent or guardian, who is aggrieved by a violation of this chapter by an agent shall have a right of action on the bond for the recovery of money, or damages, or both.

 

1207.4The amount of bond required to be filed under this subsection shall be twenty-five hundred dollars ($ 2,500).

 

1207.5A proprietary school may file a blanket surety bond for all its authorized agents in an amount to be determined by the Department, but in no case greater than fifteen thousand dollars ($ 15,000).

 

1207.6Each agent's permit shall be issued for a period of one (1) year beginning on November 1st and expiring the following October 31st.

 

1207.7Application for renewal of a permit shall be filed prior to the expiration of the permit, accompanied by the required bond and fee.

 

1207.8An agent's permit issued after the beginning of the year shall be dated, and fees prorated, in the manner provided in § 1204.