1. Each person required to be licensed as a postsecondary educational institution by the Commission or each postsecondary educational institution requesting to add a new program or degree or to renew a license must apply to the Administrator, upon forms provided by the Administrator. The application must be accompanied by the required fees. The institutions curriculum and financial statement are confidential except as otherwise provided in NRS 239.0115 or unless, in the opinion of the Commission, they militate against the issuance of a license. 2. After review of the application, any other information required by the Administrator and the report of the panel of evaluators, and an investigation of the applicant if necessary, the Commission shall grant or deny a license or grant a provisional license for a term specified by the Commission. Before the expiration of a provisional license, the Administrator shall inspect the institution, or the Commission may require the appointment of a panel of evaluators to inspect the institution, and recommend whether to revoke or continue the provisional license or to grant an unqualified license. The Commission may accept or reject the recommendation. 3. The license must state at least the following information: (a) The date of issuance, effective date and term of the license. (b) The correct name, address and owner of the institution. (c) The approved degrees or occupational subjects. (d) Any limitation considered necessary by the Commission. 4. The term for which a license is given must not exceed 2 years. The license must be posted in a conspicuous place. 5. The license must be issued to the owner or governing body of the institution and is nontransferable. If a change in ownership of the institution occurs, the owner to whom the license was issued shall inform the Administrator, and the new owner or governing body must, within 10 days after the change in ownership, apply for an approval of the change of ownership. If it fails to do so, the license terminates. 6. Within 10 days after a change of location or an addition of buildings or other facilities, the institution must file a notice of the change with the Administrator. 7. At least 60 days before the expiration of a license, the institution must complete and file with the Administrator an application for renewal of its license.
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