The institution has an obligation to make appropriate arrangements when closing an institution. Complete the Report on the Closing of a Campus and return it to the Council office prior to the closing and as soon as a decision is made to close. You must explain what teach-out arrangements you have made, the status of any refunds due, and the disposition of student records.
Council may bar a person, including spouses and closely related family groups as defined in Section 2-2-401 of the Accreditation Criteria, from being an owner or senior manager of an ACICS-accredited institution if that person was an owner or manager of an institution that had its accreditation denied or withdrawn by suspension or that closed without providing a teach-out or refunds to students matriculating at the time of the closure (Section 2 3 1000 of the Accreditation Criteria).