Commercial Bond Updates – MN

Post by – Joe Allen –

Minnesota Post Secondary Surety Bond Update

New schools that have been granted conditional approval for degrees or names need to provide a surety bond. This will allow them the opportunity to apply for and receive accreditation under Minnesota Statutes section 136A.65, subdivision 7.
The sum of the bond is to be equal to ten percent of the net revenue from tuition and fees in the registered institution’s prior fiscal year, but in no case shall the bond be less than $10,000 nor more than $250,000.
Source: State of Minnesota Journal of the Senate – Page 293

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