Sec. 12. (a) After an investigation and a finding that the information in the application is true and that the postsecondary credit bearing proprietary educational institution meets the minimum standards, the board for proprietary education shall issue an authorization to the postsecondary credit bearing proprietary educational institution upon payment of an additional fee of at least twenty-five dollars ($25). An applicant's market research may not be considered or required by the board for proprietary education as a condition for authorizing or renewing the accreditation of or for authorization of the programs of a postsecondary credit bearing proprietary educational institution. (b) The board for proprietary education may waive inspection of a postsecondary credit bearing proprietary educational institution that has been authorized by an accrediting agency recognized by the United States Department of Education whose standards are approved by the board for proprietary education as meeting or exceeding the requirements of this chapter. (c) A valid license, authorization to operate, or other form of authorization issued to a postsecondary credit bearing proprietary educational institution by another state may be accepted, instead of inspection, if: (1) the requirements of that state meet or exceed the requirements of this chapter; and (2) the other state will, in turn, extend reciprocity to postsecondary credit bearing proprietary educational institutions authorized by the board for proprietary education. (d) The board for proprietary education may join interstate reciprocity agreements and authorize an institution to operate in Indiana, if the: (1) institution; and (2) state in which both the institution's: (A) principal campus is located; and (B) institutional accreditation is provided; are members of the interstate reciprocity agreement. (e) An authorization issued under this section expires one (1) year following the authorization's issuance. (f) An authorized postsecondary credit bearing proprietary educational institution may renew the institution's authorization annually upon: (1) the payment of a fee of at least twenty-five dollars ($25); and (2) continued compliance with this chapter.
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