At the time of depositing any moneys to purchase the product of any proprietary school, the proprietary school shall require the student to execute the following statement on an appropriate form which shall be maintained on record by the proprietary school in the individual student's file: "I understand that (Name of proprietary school) is registered with the State Board of Education in accordance with Section 33-2403 , Idaho Code. I also understand that the State Board of Education has not accredited or endorsed any course of study being offered by (Name of proprietary school), and that these courses may not be accepted for transfer into any Idaho public postsecondary institution."
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