AZ SB1210

Redefines "operate" for private postsecondary institutions to include either maintaining a physical presence in Arizona with an in-state director, or providing online distance education to Arizona residents if the institution is not part of the National Council for State Authorization Reciprocity Agreements (NC-SARA)

Creates a new out-of-state registration requirement for non-Arizona private postsecondary institutions offering fully online programs to Arizona residents that are not NC-SARA participants

Requires out-of-state institutions to submit proof of home state authorization, accreditation status, financial protection (surety bonds or proof of financial viability), financial statements, and student transcript samples to the Arizona Board for Private Postsecondary Education

Mandates out-of-state registered institutions maintain student transcripts in perpetuity and enrollment/financing records for at least 10 years, with transcripts submitted to the board within 30 days of closure

Extends the Student Tuition Recovery Fund requirements to institutions with out-of-state registration, while clarifying that non-resident students enrolled in online programs are not subject to fund assessments