The commission shall
(1) establish minimum criteria consistent with AS 14.48.060 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, must meet before the authorization or permit is issued;
(2) receive, investigate, 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 the state under this chapter;
(4) keep current and make available as public information the list of institutions and agents;
(5) enter into interstate reciprocity agreements if, in the judgment of the commission, the agreements will be helpful in carrying out the purposes of this chapter;
(6) receive and maintain as a permanent file, copies of academic records maintained in accordance with AS 14.48.060(b)(6);
(7) adopt regulations and procedures necessary or appropriate for the conduct of its work and the implementation of this chapter under AS 44.62 (Administrative Procedure Act);
(8) investigate on its own initiative or in response to a complaint lodged with it, persons subject to, or reasonably believed by the commission to be subject to, the jurisdiction of this chapter; and in connection with the investigation subpoena persons, books, records, or documents related to the investigation; require answers in writing under oath to questions propounded by the commission and administer oaths or affirmations to persons in connection with the investigation; and, for the purpose of examination at all reasonable times, shall have access to, and the right to copy, documentary evidence of a corporation that is under investigation or being proceeded against;
(9) exercise other necessary powers and duties in conformity with the provisions of this chapter that, in the judgment of the commission, are necessary to carry out the provisions of this chapter.