(a) The commission has the power and duty to:

(1) Establish minimum criteria in conformity with § 49-7-2006, including quality of education, ethical and business practices, health and safety and fiscal responsibility, that applicants for authorization to operate, or for an agent's permit, shall meet before the authorization or permit may be issued, and to continue the authorization or permit in effect. The criteria to be developed shall effectuate the purposes of this part, but not unreasonably hinder legitimate educational innovation;

(2) Receive, investigate as it may deem necessary and act upon applications for authorization to operate postsecondary educational institutions and applications for agent's permits;

(3) Maintain a list of postsecondary educational institutions and agents authorized to operate in this state under this part. This list shall be available for the information of the public;

(4) Negotiate and enter into interstate reciprocity agreements with similar agencies in other states, if, in the judgment of the commission, the agreements are or will be helpful in effectuating the purposes of this part; provided, that nothing contained in the reciprocity agreement shall be construed as limiting the commission's powers, duties and responsibilities with respect to independently investigating or acting upon any application for authorization to operate or any application for renewal of the authorization to operate for a postsecondary educational institution or an application for issuance of or renewal of any agent's permit, or with respect to the enforcement of any provision of this part or any of the rules or regulations promulgated under this part;

(5) Receive and cause to be maintained as a permanent file, copies of academic records in conformity with § 49-7-2016;

(6) Promulgate rules, regulations, performance standards and procedures necessary or appropriate for the conduct of its work and the implementation of this part, which rules and regulations shall have the force of law, and to hold hearings as it deems advisable or as required by law in developing the rules, regulations and procedures or in aid of any investigation or inquiry;

(7) Investigate as it deems necessary, on its own initiative or in response to any complaint lodged with it, any person, group or entity subject to, or reasonably believed by the commission to be subject to, the jurisdiction of this part; and in connection with the investigation, to subpoena any persons, books, records or documents pertaining to the investigation, which subpoenas shall be enforceable by any court of this state, to require answers in writing under oath to questions propounded by the commission, and to administer an oath or affirmation to any person in connection with any investigation;

(8) Exercise other powers and duties implied but not enumerated in this subsection (a), but in conformity with this part that, in the judgment of the commission, are determined necessary in order to carry out this part; and

(9) [Deleted by 2016 amendment.]

(b) The commission may require as part of the application for initial authorization of a postsecondary educational institution criminal background checks for all owners and directors of institutions not accredited by an accrediting agency recognized by the United States department of education. The results of the background checks under this section shall be confidential and not open to public inspection.

(c) The commission may employ other employees it deems necessary to discharge the duties imposed by this part and shall prescribe their duties and, within budgetary limitations, fix their compensation, subject to the approval of the commissioners of finance and administration and human resources.

(d) To effectuate the purposes of this part, the commission may request from any department, division, board, bureau, agency or commission, and the department, division, board, bureau, agency or commission shall provide, information that will enable the commission to exercise properly its powers and perform its duties under this part.