The Council may bar a person or entity, including spouses and closely related family groups as defined in Section 2-2-401, from being an owner, senior administrator, or governing board member of an ACICS-accredited institution if that person or entity was found guilty of fraudulent or criminal behavior; was debarred by a government agency or an accrediting agency; or was an owner, senior administrator, or governing board member of an institution that lost its accreditation as a result of a denial or suspension action or that closed without providing a teach-out or refunds to students matriculating at the time of closure.