20-30-301. License to operate institution. (1) Each postsecondary educational institution not exempted from this chapter intending to operate or presently operating in this state shall apply to the department for a license to operate. Application shall be made on forms prescribed by the department. Each application shall be accompanied by the most recent catalog or brochure published or intended to be published by the institution. The application also shall be accompanied by evidence of payment of the fees required by this chapter.
     (2) After review of the application and any further information required by the department, any investigation of the application which the department may deem necessary or appropriate, and evidence of a surety bond as required by this chapter, the department shall either issue or not issue a license to operate a postsecondary educational institution. The license shall be nontransferable and may be upon such terms and conditions as the department may require.
     (3) The license shall be in a form prescribed by the department and shall state in a clear and conspicuous manner at least the following information:
     (a) date of issuance, effective date, and date of expiration;
     (b) the name and address of the institution licensed;
     (c) the authority for and conditions of approval; and
     (d) any terms or conditions required by the department.
     (4) No license shall be valid for more than 2 years and may be valid for a lesser period of time.

     History: En. 75-9209 by Sec. 9, Ch. 296, L. 1974; R.C.M. 1947, 75-9209.