If the Agency determines that reasonable cause exists to question the validity of any financial information submitted, or the financial stability of the school, the Agency may order at the school's expense:

1. (1) an audit of a school's financial statements in accordance with this subchapter; and
2. (2) the owner to furnish any other evidence deemed appropriate by the Agency to establish financial stability. Failure of a career school or college to provide compliant financial statements or other evidence required by the Agency, by the date noted in such order, may result in revocation of its certificate of approval.

Source Note:The provisions of this §807.37 adopted to be effective August 16, 1998, 23 TexReg 8479; amended to be effective November 28, 2022, 47 TexReg 7914.