Code of Maryland Regulations (Last Updated: April 6, 2021) |
Title 13B. Maryland Higher Education Commission |
Subtitle 02. ACADEMIC REGULATIONS |
Chapter 13B.02.06. Financial Guarantees and the Maryland Guaranty Student Tuition Fund for For-Profit Institutions of Higher Education |
Sec. 13b.02.06.05. Financial Guarantee and Potential Guaranty Fund Assessment
Latest version.
-
A. Each school shall:
(1) As prescribed by Regulation .06 of this chapter, provide a financial guarantee to the Commission; and
(2) As prescribed by Regulation .07 of this chapter, pay an assessment, if one is levied by the Secretary, into the Fund.
B. The Secretary may not issue a certificate of approval to, and may revoke any certificate of approval previously issued to, a school that fails to comply with the requirements of §A of this regulation.