School discontinuance

1. Each school intending to transfer ownership or discontinue its operation voluntarily or by revocation of license by the board shall notify the board in writing at least sixty days prior to the final date of operation, and all proper and full credit hours for all students and student instructors currently enrolled must be certified in writing to the board for the protection of the students and student instructors. 2. Written notification of transfer of ownership or voluntary discontinuance of school must include a plan for transfer of all current students. The plan must: a. Be approved by the board; b. Include last date of operation; and c. Include which closing procedure will be followed: (1) The school will continue operations until last enrolled student is graduated; or (2) The plan includes a transfer option to another licensed school for enrolled students.