LAC 28:III.503. Student Protection Fund

A. First Payment. Initial (new) schools and change-of-ownership schools shall be required to submit their first payment of $1,000 made payable to the "Student Protection Fund" with their application. B. Annual Payment. The required annual payments, if applicable, to the Student Protection Fund shall be collected based on the schedule provided in R.S. 17:3140.11. C. Collection Schedule. Annual payments shall cease when the fund accumulates to $800,000 but shall resume when the fund drops below $750,000.