BUREAU OF PROPRIETARY SCHOOL SUPERVISION
Instructions for Completing an "Application for a Transfer
of a License or a Registration to Operate a Private School
in New York State," BPSS-3
February 2004
Section 5001 of the Education Law prohibits the transfer or assignment of a school's license or registration without the approval of the Commissioner. Any transfer or assignment of any interest totaling 10 percent or more, whether direct or indirect, in the total equity or assets of a school shall be deemed a transfer of such school's license or registration.
The Department must approve or deny a transfer license/registration application within 90 days of receipt of the completed application in the Bureau of Fiscal Management.
All the information requested on the "Application for Transfer or Assignment of a School License or Registration" must be supplied or the application will be returned to the applicant as an incomplete application.
The following items must be attached to the application when it is submitted:
In the event the private trade school or private business school is part of a larger reporting entity or corporation, financial statements for the entity or corporation as well as the individual private school for which a license or registration is being sought shall be required.
The financial statements shall be based on the fiscal year of the school preceding the year which such license or registration is being sought. Please refer to PG4-0900
If the name of the school will change as a result of the stock transfer or sale of the school, all personnel documents must be reissued with the school's new name.
Please refer to the School Name Change Fact Sheet
for a summary of this process.
The transfer fee is based on the annual gross tuition. The appropriate financial statement must be used to verify the annual gross tuition. Please refer to item 15 for a definition of annual gross tuition.
|
Annual Gross Tuition Fee |
|
| $0 - $199,999 | $ 250 |
| $200,000 - $499,999 | $500 |
| $500,000 - $999,999 | $750 |
| $1,000,000 - $4,999,999 | $1,500 |
| $5,000,000 - $9,999,999 | $3,000 |
| $10,000,000 or above | $6,000 |
For additional information on the supporting documentation to be submitted with the "Application for a Transfer of a License or a Registration to Operate a Private School in New York State," BPSS-3, see the School Ownership Change Fact Sheet.
Basic Application Instructions
The secretary of the corporation must complete the Secretary's Certificate and attach the Certificate to the application.
Signature of Director The original signature of the person whose name appears in item 7 must appear here.
Signature of Prospective Owner/President The name of the person who is purchasing the school, or who is president of the corporation who is purchasing the school must appear here. Sole proprietors must sign the application for themselves. AlI partners of a partnership must list their names on the application. The president of the corporation must sign for the corporation.
Owner's Affidavit The signature of the owner/president or partners must be notarized.