1.    A license must be granted to a school of cosmetology upon an application to the board and the payment of the license fee if the school:

a.    Is operated and maintained in premises separate from any cosmetology salon; b.    Requires a minimum of one thousand five hundred hours of training and instruction in cosmetology, six hundred hours of training and instruction in esthetics, or three hundred fifty hours of training and instruction in manicuring, not to exceed eight hours per day; c.    Employs at least two full-time licensed instructors and maintains a maximum student-to-instructor ratio of twenty-four-to-one based on current enrollment, except a school that provides training and instruction limited to esthetics or manicuring shall maintain a maximum student-to-instructor ratio of twelve-to-one based on current enrollment; d.    Possesses apparatus and equipment sufficient for the proper and full teaching of all subjects of its curriculum; e.    Maintains a record of the attendance and performance of each student; f.    Maintains regular class and instruction hours to include practical demonstrations and theoretical studies supplemented by audiovisual aids, and studies in sanitation, sterilization, and other safety measures and the use of antiseptics, cosmetics, and electrical appliances consistent with the practical and theoretical requirements as applicable to cosmetology; g.    Agrees not to:

(1) Permit any student to practice on any individual who is not an instructor or registered student of the school until the student has completed at least twenty percent of the total hours of instruction required under this chapter and only if the practice is under the immediate direction and supervision of a licensed instructor; or

(2) Compensate any of the school’s basic students in any way; and

h.    At the time of application for licensure and upon the renewal of a license, furnishes to the board, and maintains in force at all times the license is in effect, a bond in the penal sum of ten thousand dollars. The bond must run in favor of the board, as agent of the state, and must be furnished by a surety company authorized to do business in this state. It must be conditioned upon the bonded school’s providing its registered students with the full course of instruction required under this chapter and must provide for a refund of a proportionate amount of each student’s tuition fee upon default.

2.    Any school that enrolls student instructors shall set up an adequate course of training with the approval of the board and may not have at any one time more than two student instructors for each licensed instructor actively engaged in the school.