(a) Unless otherwise instructed by the Agency, a school shall notify the Agency in writing of any legal action to which the school, any of its owners, representatives, or management employees is a party.
(b) A school shall notify the Agency in writing of any legal action described in this section no later than five business days after the action is known to be filed or the school, owner, representative, or management employee is served.
(c) An owner shall notify the Agency in writing no later than five business days of each instance of:
  (1) lease or mortgage default; or
  (2) lease or mortgage payment(s) being past due greater than 30 days.
(d) A school shall include, with the notice required in this section, a file-marked copy of the legal notice, petition, complaint, or other legal instrument, including copies of any judgments.
(e) A school shall notify the Agency in writing no later than five business days after receiving notice of any change in accreditation status or Title IV status, including but not limited to, Heightened Cash Monitoring 1 or 2, loss of eligibility, composite score, 90/10 ratio or default rate problems, or other similar changes.

Source Note: The provisions of this §807.15 adopted to be effective August 16, 1998, 23 TexReg 8479; amended to be effective November 14, 2016, 41 TexReg 9020; amended to be effective November 28, 2022, 47 TexReg 7914