Section 5001(7) of the Education Law states, “No license granted under this section shall be able or assignable without the approval of the commissioner. Upon transfer or assignment of any interest totaling twenty-five percent or more, whether direct or indirect, in the total equity or assets of a school, such school shall be deemed a new school required to submit a new school application and obtain a new license pursuant to this article . . .”
In order to operate at a new location or under a new name, schools must receive written approval from the Bureau of Proprietary School Supervision (BPSS). In order to lawfully transfer a school license upon a transfer or assignment of ownership interests in schools’ equity or assets, schools must comply with the procedures set forth in Policy Guidance #46.
In an ongoing effort to assist school owners/directors with these processes, the Bureau has designed a Fact Sheet for each situation (School Move, Name Change, Ownership Change). The use of these Fact Sheets will assist the school owners/directors in submitting the required documentation for the applicable situation. Proper submissions will allow the review process to be completed in a timely manner. All status change requests must receive full BPSS approval prior to implementation by the school.
Once the documentation is submitted, Bureau staff will communicate any outstanding issues to the school director. All issues must be resolved within 60 days from the date of the initial Bureau review and notification to the school of outstanding issues. Failure to respond by the deadline date given will delay the approval of the changes being sought by the school and may result in disciplinary action.