(1) No note, other instrument of indebtedness, or contract relating to payment for educational services shall be enforceable in the courts of this state by any school located within this state unless the school, at the time of execution of the note, other instrument of indebtedness, or contract, holds a valid certificate of approval nor by any school having an agent in this state unless the agent, who enrolled persons to whom educational services were to be rendered or to whom educational credentials were to be granted, held a valid agent's permit at the time of the execution of the note, other instrument of indebtedness, or contract.
(2) The enforceability of notes, contracts, and other evidence of indebtedness relating to payment for educational services shall be in compliance with applicable state and federal laws and regulations, as amended.
Source: L. 2017: Entire article added with relocations, (HB 17-1239), ch. 261, p. 1200, § 1, effective August 9.
Editor's note: This section is similar to former § 12-59-120 as it existed prior to 2017. 23-64-127. Violations - civil - penalty. The board may commence a civil action against any entity believed by the board to have violated the provisions of section 23-64-113 or who fails or refuses to deposit with the division the records required by section 23-64-125. Upon a finding that the entity has violated the provisions of section 23-64-113 or has failed or refused to deposit with the division the records required by section 23-64-125, the court shall order the entity to pay to the division a civil penalty not to exceed one hundred dollars for each violation. Each day's failure by an entity to comply with the provisions of said section is a separate violation.
Source: L. 2017: Entire article added with relocations, (HB 17-1239), ch. 261, p. 1200, § 1, effective August 9.
Editor's note: This section is similar to former § 12-59-121 as it existed prior to 2017.