(a) It is the purpose of this chapter to provide for the protection, education, and welfare of the citizens of the state, its postsecondary educational institutions, and its students, by
- (1) establishing minimum standards concerning quality of education, ethical and business practices, health and safety, and fiscal responsibility, to protect against substandard, transient, unethical, deceptive, or fraudulent institutions and practices;
- (2) prohibiting the granting of false or misleading educational credentials;
- (3) regulating the use of academic terminology in designating educational institutions;
- (4) prohibiting misleading literature, advertising, solicitation, or representation by educational institutions or their agents;
- (5) providing for the preservation of essential academic records; and
- (6) providing certain rights and remedies to the public and the commission necessary to carry out the purposes of this chapter.