As a basis for registration, schools shall provide the office with such information as the office needs to determine the nature and activities of the school, including but not limited to the following which shall be accompanied by an affidavit attesting to its accuracy and truthfulness:
(1) articles of incorporation, constitution, bylaws, or other operating documents;
(2) a duly adopted statement of the school's mission and goals;
(3) evidence of current school or program licenses granted by departments or agencies of any state;
(4) a fiscal balance sheet on an accrual basis, or a certified audit of the immediate past fiscal year including any management letters provided by the independent auditor or, if the school is a public institution outside Minnesota, an income statement for the immediate past fiscal year;
(5) all current promotional and recruitment materials and advertisements; and
(6) the current school catalog and, if not contained in the catalog:
(i) the members of the board of trustees or directors, if any;
(ii) the current institutional officers;
(iii) current full-time and part-time faculty with degrees held or applicable experience;
(iv) a description of all school facilities;
(v) a description of all current course offerings;
(vi) all requirements for satisfactory completion of courses, programs, and degrees;
(vii) the school's policy about freedom or limitation of expression and inquiry;
(viii) a current schedule of fees, charges for tuition, required supplies, student activities, housing, and all other standard charges;
(ix) the school's policy about refunds and adjustments;
(x) the school's policy about granting credit for prior education, training, and experience; and
(xi) the school's policies about student admission, evaluation, suspension, and dismissal.
The office shall not disclose financial records or accreditation reports provided to it by a school pursuant to this section except for the purpose of defending, at hearings pursuant to chapter 14, or other appeal proceedings, its decision to approve or not to approve the granting of degrees or the use of a name by the school. Section 15.17, subdivision 4, shall not apply to such records.
If the office is unable to determine the nature and activities of a school on the basis of the information in subdivision 1, the office shall notify the school of additional information needed.
The office may verify the accuracy of submitted information by inspection, visitation, or any other means it considers necessary.
All information submitted to the office is public information except financial and accreditation records and information. The office may disclose financial records or information to defend its decision to approve or disapprove granting of degrees or the use of a name or its decisions to revoke the approval at a hearing under chapter 14 or other legal proceedings.
Applications for renewal for any registration received after the deadline date specified in the renewal materials provided by the office are subject to a late fee equal to 20 percent of the annual registration renewal fee.
A school shall reimburse the office for actual costs associated with a site evaluation visit outside Minnesota if the visit is necessary under subdivision 1 or 3.