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 D.C. Municipal Regulations (Last Updated: September 13, 2017)
 Title 5. EDUCATION
 SubTilte 5-A. OFFICE OF THE STATE SUPERINTENDENT OF EDUCATION
 Chapter 5-A81. POSTSECONDARY NON-DEGREE SCHOOLS

  Section 5-A8125. SURETY REQUIREMENT  

Latest version.

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    8125.1A school shall provide a bond or other surety acceptable to the Commission so long as the school operates within the District of Columbia.

     

    8125.2The bond or surety shall be payable to the Commission for the purpose of protecting students should the school declare bankruptcy or otherwise breach its contract with its students by terminating an educational program without providing adequate student refund or teach-out arrangements.

     

    8125.3A student, or the student's parent or guardian, who is aggrieved by an action under §2225.2 has a right of action on the bond for the recovery of money, or damages, or both.

     

    8125.4The amount of surety required to be filed by a school shall be as follows:

    Number Students Enrolled

     

    Annual Net Tuition Received

    Amount of Surety

     

    50

    or fewer

    and

    $100,000 or less

    $500

    51

    to 150

    or

    $100,000 to $1.000,000

    $10,000

    151

    or more

    or

    $1,000,001 and up*

    $20,000

     

source

Final Rulemaking published at 37 DCR 6619, 6635 (October 19, 1990).

EditorNote

The Final Rulemaking had "$1,000,001 to $1,000,000." The entry next to the asterisk reflects the agency's actual intent.