1.  A postsecondary educational institution shall:

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(a) Provide students and other interested persons with a current and complete catalog or brochure containing information describing the programs offered, objectives of the program, length of the program, schedule of tuition, fees and all other charges and expenses necessary for completion of the course of study, policies concerning cancellations and refunds, an explanation of the Account for Student Indemnification and other material facts concerning the institution and the program or course of instruction that are likely to affect the decision of the student to enroll therein, together with any other disclosures specified by the Administrator or defined in the regulations of the Commission. The information must be provided before signing an agreement to enroll.

(b) Provide each student who satisfactorily completes the training with appropriate educational credentials indicating:

(1) That the course of instruction or study has been satisfactorily completed by the student; and

(2) If the training does not lead to a degree, the number of hours of instruction or credits required of the student to complete the training.

(c) Unless otherwise authorized by the Commission, maintain adequate records at the licensed facility to reflect the attendance, progress and performance of each student at the facility.

(d) Provide each student with a current and complete copy of the agreement to enroll, dated and signed by the student or the student’s guardian and an officer of the institution, which must:

(1) Include a statement that the student or the student’s guardian and the officer of the institution have reviewed each section of the agreement and had the opportunity to ask questions;

(2) Be printed in at least 10-point font; and

(3) Include a cancellation policy that:

(I) Provides that an agreement to enroll may be cancelled not later than 3 days after signing the agreement; and

(II) Contains clear language explaining the process to cancel an agreement to enroll.

(e) For each program offered at the institution that does not lead to a degree, collect and maintain information concerning:

(1) The number of students enrolled in the program and the number and names of students who have obtained employment in related fields, with their locations of placement;

(2) The number of:

(I) Students enrolled in the program;

(II) Students who have graduated from the program; and

(III) Graduates who have obtained employment in fields related to the instruction offered in the program, with the average compensation of such graduates; or

(3) For each such program offered to prepare students for a licensing examination:

(I) The number of students enrolled in the program;

(II) The number of such students who have graduated from the program; and

(III) The number of such graduates who have passed the examination.

(f) Select, from the information collected pursuant to paragraph (e), the information relating to any 6-month period within the 18-month period preceding its next date for enrollment. The information for the period selected must be set forth in written form and posted conspicuously at the institution.

(g) Include a disclosure page or prominent link to the disclosure page on the main page of the Internet website of the postsecondary educational institution.

(h) Include a statement indicating where a person can access the complaint policy of the postsecondary educational institution in the catalog or brochure of the institution or on the main page of the Internet website of the postsecondary educational institution.

2.  The Commission shall adopt regulations imposing a fine against a postsecondary educational institution that fails to comply with paragraph (g) of subsection 1.