BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:
Section I. Amend Chapter 85, Title 14 of the Delaware Code by adding a new Section 8530, to read as follows:
"§8530. Disposition of Permanent Student Records by Postsecondary Institutions
(a) Notwithstanding any exemptions to the contrary in this Chapter, all postsecondary Institutions authorized, approved or licensed by the State Board of Education to operate in the State of Delaware under this Chapter or under Section 125, Title 8 prior to discontinuing operation, shall perform the following duties:
(1) Notify in writing the State Board of Education and all currently enrolled students of the decision to cease operation;
(2) Notify in writing all currently enrolled students, and students enrolled during the five prior years, that information concerning permanent student records may be obtained from the State Board of Education;
(3) Convey all permanent student records to the State Board of Education, or to another location designated by the Board, for safekeeping and for reproduction as requested by the students.
(b) As used in this section, 'permanent student records' shall mean all those documents that are necessary to provide a meaningful record of student performance and financial aid and shall include, but not be limited to, the following:
(1) Academic records, including written evaluations, competency assessments, etc.
(3) Change of grade forms
(4) Class lists, Including original grade sheets
(5) Commencement programs/graduation lists
(6) Schedules of classes
(7) Financial aid transcripts and supporting documents."
Section 2. Amend Section 125, Title 8 of the Delaware Code by adding to the end of the first paragraph the following sentence:
"Upon dissolution, all such corporations shall comply with the provisions of Section 8530, Chapter 85, Title 14."