LIS

Virginia Law

Administrative Code

Creating a Report: Check the sections you'd like to appear in the report, then use the "Create Report" button at the bottom of the page to generate your report. Once the report is generated you'll then have the option to download it as a pdf, print or email the report.

Virginia Administrative Code
Title 8. Education
Agency 20. State Board of Education
Chapter 671. Regulations Governing the Operation of Private Schools for Students with Disabilities
11/21/2024

8VAC20-671-230. Protection of contractual rights.

In compliance with § 22.1-324 of the Code of Virginia, provisions for the protection of contractual rights shall include the following:

1. With each application, the applicant shall submit and maintain a guaranty instrument payable to the Commonwealth of Virginia to protect the contractual rights of students and other contracting parties.

2. The guaranty instrument shall be based on the school's approved capacity. A guaranty of $10,000 for up to 25 students and $5,000 for each additional 25 students shall apply.

3. In the event a guaranty instrument is terminated, the license to operate will terminate within 30 calendar days if a replacement bond or other instrument is not filed with the department.

4. If a school collects no advance tuition other than equal monthly installments or receives payment after services have been rendered, the school may apply to the department for exemption from the guaranty requirements.

Statutory Authority

§§ 22.1-16 and 22.1-321 of the Code of Virginia.

Historical Notes

Derived from Virginia Register Volume 31, Issue 24, eff. August 26, 2015.

Website addresses provided in the Virginia Administrative Code to documents incorporated by reference are for the reader's convenience only, may not necessarily be active or current, and should not be relied upon. To ensure the information incorporated by reference is accurate, the reader is encouraged to use the source document described in the regulation.

As a service to the public, the Virginia Administrative Code is provided online by the Virginia General Assembly. We are unable to answer legal questions or respond to requests for legal advice, including application of law to specific fact. To understand and protect your legal rights, you should consult an attorney.