Section 2-2-400 of the Accreditation Criteria provides for an automatic, self-executing discontinuation of accreditation effective on the date of a change of ownership/control of an institution accredited by ACICS. It then becomes the responsibility of the institution under the new change of ownership or control to seek a reinstatement of accreditation. The Council does not approve these changes before the transaction actually has occurred.
Upon receipt of a change of ownership notification or application, the Council will notify various federal and state agencies of the fact that the accreditation of the institution has been discontinued due to the changes. When the Council is not in session, the Council may, at its discretion, grant a temporary reinstatement of accreditation for a period of time sufficient to consider the application at a regularly scheduled meeting.
ACICS is required by the recognition provisions of the U.S. Department of Education to conduct an on-site visit within six months of the date of a change of ownership or control. The Council will not grant final reinstatement of accreditation until the visit has occurred and the report has been considered by the Council in regular session.
Also, Sections 2-2-400, 2-2-401, 2-2-402, and 2-2-403 of the Accreditation Criteria provide an in-depth explanation of the change of ownership and control policies and procedures.