Any institution with a substantial change in governance, including a 50% or greater change in the composition of the governing board within a one-year period or decisions by the board which would affect the mission, character, and quality of the institution shall inform the commission by submitting the following:

1. (a) A letter and any documents explaining the reason for the changes, and how these changes will impact the mission, current operations, and students;
2. (b) Public disclosure, including a timeline and student and donor notification;
3. (c) Any other substantive changes altering the current activity in Hedc 405;
4. (d) Any correspondence to and from institutional accrediting agencies;
5. (e) Documentation of change in incorporated status, such as creation of a sole membership; and
6. (f) Any contracts detailing arrangements regarding development of courses, programs, or degrees by a non-title IV eligible entity.

Source. #10429, eff 10-5-1313 (See Revision Note at chapter heading for Hedc 400); ss by #13802, eff 11-2-23