§ 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.
History
The record of this law’s original creation isn’t available online. It has been modified 6 times. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. Those modifications are as follows: in 1970, chapter 665; in 1977, chapter 444; in 1980, chapter 559; in 1988, chapter 574; in 1993, chapter 351; in 2004, chapter 991.
Code 1950, § 22-330.22; 1970, c. 665; 1977, c. 444; 1980, c. 559; 1988, c. 574; 1993, c. 351; 2004, c. 991.