(a) No person, agent, group or entity of whatever kind, alone or in concert with others, shall operate in this state a postsecondary educational institution unless, prior to a student signing an enrollment contract or agreement, the institution provides any prospective student a written disclosure about transferability of credits in the form set forth in subdivision (b)(2).
(b)
(1) The disclosure required by this section shall be on a document containing no other disclosures and shall be printed in a type not less than sixteen (16) point font. The student shall initial and date a copy of the written information to indicate that the student was given the required disclosures prior to executing an enrollment contract or agreement.
(2) The disclosure on the transferability of credits shall be as follows:
(c) If a postsecondary institution does not require a student to sign an enrollment contract or agreement, then information on how to obtain the institution's transfer of credit policy shall be included in the letter of acceptance or other such document sent by the postsecondary institution to the student. The information shall be sent to the student prior to the institution's requesting any payment from the student other than an application fee or a housing deposit.
(d) Information required under this section to be disclosed in writing to prospective students shall also be posted on the institution's web site.
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