11:5-2.2 INSURANCE
required instruction is done by guest lecturers. Broker prelicen- sure courses may be taught by up to three instructors, provided that one licensed instructor is designated as having the responsi- bility for the quality of instruction in that course. School direc- tors shall maintain as a business record the names of any persons teaching as guest lecturers or as a group of instructors, with an indication of the designated supervising instructor.
(n) All tuition charged by a school shall be specified sepa- rately. If additional fees are to be charged for supplies, materials or books needed in course of work, they shall be itemized by the school prior to the payment of any fees and such items shall become the property of the student upon payment.
(o) The tuition and fees shall be specifically set forth in a student contract. The contract shall expressly state the school’s policy regarding the return of unearned tuition when a student is dismissed or withdraws voluntarily or because of hardship.
(p) Any person who has a permanent disability or physical handicap which precludes that person from attending regular scheduled classes at a licensed school may request Commission approval to receive special instruction through a licensed school provided this request is supported by sworn statements of doctors or other persons having knowledge of the facts and provided a licensed school is willing to undertake such an agreement.
(q) No school shall, without the approval of the Commission, accept for enrollment as a transfer student any person concur- rently enrolled with any other licensed school, unless upon the showing of good cause by said student to the Commission in writing.
(r) Any school that offers real estate continuing education courses shall maintain records of licensees’ attendance at such courses as prescribed by N.J.A.C. 11:5-12.8. Every school shall permanently establish and maintain for each student enrolled in a prelicensure education course, complete, accurate and detailed records for a period of not less than three years after student ma- triculation. Such records shall be available for inspection during regular school hours by the Commission and shall contain the following information:
1. The total number of hours of instruction undertaken by the student;
2. Completed areas of study in real estate subjects prescribed by the Act and these regulations;
3. The student’s attendance record; and
4. The names of all supervising instructors and guest lectur- ers.
(s) To satisfactorily complete any prelicensure course, a stu- dent must receive a passing grade and attend at least 80 percent of the class session hours required for the course by N.J.A.C. 11:5-2.1.
(t) Upon a student’s satisfactory completion of a prelicen- sure course in real estate, the school shall issue to the student a Course Completion Certificate.
(u) The director of a real estate school shall be responsible for properly closing the school in compliance with this subsection.
1. No later than 10 days after the date on which the school ceases operations, the director shall return the school license, stamp, and all education certificates to the Commission and shall advise the Commission in writing of the date on which the school closed.
2. Within 30 days of the date on which the school ceases op- erations, the director shall submit an affidavit to the Commission certifying the following:
i. The location where student records are to be kept in compliance with (r) above and the name of the person who is to act as custodian of the records. The Commission shall be notified immediately of any change in such information. Records shall be kept for a period of not less than three years;
ii. The name of the owner or authorized representative of the school and the address where he or she may be contacted by the Commission;
iii. That the school license and school stamp have been re- turned to the Commission;
iv. That all students have been timely notified of the school closing, and any tuition received by the school for future courses or courses which were not completed has been returned to the students;
v. That all signs have been removed, and all advertisements and trade materials which refer to the school have been recalled;
vi. That the appropriate telephone services have been advised that the school is closed and that future telephone directories should not contain the name of the school; and
vii. That there are no outstanding fees, fines or penalties due and owing the Commission.
(v) No school shall use any name other than the name in which it is licensed for advertising or publicity purposes; nor shall any school advertise or imply that it is “recommended,” “endorsed,” “accredited,” or “approved” by the Commission, but a licensed school may indicate that it has been “licensed” to conduct courses of education in real estate subjects to qualify applicants for licensure examination. No school shall make any warranties or guarantees that a student will pass the State license examination as a result of taking its course.
(w) (Reserved)
(x) The purpose of this subsection is to assure that there is a total separation between instructional activity conducted by