490-105-040  <<  490-105-041 >>   490-105-042

WAC 490-105-041

Annual license renewal requirements.

(See RCW 28C.10.050 and 28C.10.060.) An entity operating under a private vocational school license must apply for an annual license renewal according to instructions provided by the agency. The renewal application must include, along with the renewal fees, the following information attested to by the school's chief administrative officer:
(1) An identification of owners, shareholders, and directors.
(a) The complete legal name, current personal telephone number, email address, and current mailing address of the owner;
(b) The form of ownership; e.g., sole proprietorship, partnership, limited partnership, or corporation;
(c) Names, addresses, phone numbers, email addresses, and prior school affiliations, if any, of all individuals with ten percent or more ownership interest;
(d) A school that is a corporation or a subsidiary of another corporation must submit:
(i) Current evidence that the corporation is registered with the Washington secretary of state's office; and
(ii) The name, address, and telephone number of the corporation's registered agent.
(2) A catalog in accordance with WAC 490-105-042.
(3) An enrollment agreement/contract in accordance with WAC 490-105-043.
(4) A financial statement.
(a) The school must submit information reflecting its financial condition at the close of its most recent fiscal year to demonstrate that it has sufficient financial resources to fulfill its commitments to students.
(i) Each accredited school must submit a reviewed or audited financial statement, whichever is required by its accrediting body.
(ii) Each nonaccredited school must submit a financial statement in a format supplied by the agency.  
(b) If inadequate time exists to produce a financial statement in the interval between the ending date of the school's fiscal year and the due date of an application, the agency will adjust the school's license period to provide a reasonable interval.
(5) Owners of multiple schools may file financial information that consists of a single, consolidated financial statement and balance sheet for the corporation. The consolidated financial statement must be accompanied by data that documents total tuition earnings for each separate school under the corporation's ownership at the close of its most recent fiscal year.
(6) Schools under common ownership may designate a single location as the principle facility for recordkeeping via written notice to the agency and will be assigned the same licensing year for renewal purposes.
(7) A list of instructional and administration staff in accordance with WAC 490-105-044.
(8) A list of registered sales agent(s) in accordance with WAC 490-105-050.
(9) Requirements for student refund and cancellation policy in accordance with WAC 490-105-130.
(10) A description of programs and course offerings in accordance with WAC 490-105-150.
(11) Any other information the agency deems necessary.
[Statutory Authority: RCW 28.10.040 [28C.10.040]. WSR 15-24-088, § 490-105-041, filed 11/30/15, effective 12/31/15.]
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