A real estate education provider that desires to terminate operations shall submit to the Commission, within 60 days of the planned termination, a termination plan that includes the following:

1. (1) The date of termination.
2. (2) The date that real estate education provider records will be transferred to the designated records custodian.
3. (3) The procedure for refunding tuition and allocating credits to currently enrolled students.

Authority

The provisions of this § 35.363 issued under the Real Estate Licensing and Registration Act (63 P. S. § § 455.101—455.902).

Source

The provisions of this § 35.363 adopted February 24, 1989, effective February 25, 1989, 19 Pa.B. 781; amended June 10, 1994, effective June 11, 1994, 24 Pa.B. 2904; amended December 10, 2004, effective December 11, 2004, 34 Pa.B. 6530. Immediately preceding text appears at serial page (201899).

Cross References

This section cited in 49 Pa. Code § 35.344 (relating to withdrawal of school or director approval); 49 Pa. Code § 35.351 (relating to duty of director); and 49 Pa. Code § 35.362 (relating to inspection of school).