NC S248

Repeals Article 8 of Chapter 115D and establishes a new Chapter 115F creating the North Carolina Proprietary School Licensure Act to regulate private vocational and postsecondary schools below the associate degree level.

Creates a seven-member North Carolina Board of Proprietary Schools with members appointed by the Governor, President Pro Tempore of the Senate, and Speaker of the House, plus the President of the North Carolina Community College System.

Requires proprietary schools to obtain licenses, maintain guaranty bonds (minimum $25,000), and pay initial ($1,250) and annual assessments into a Student Protection Fund based on gross tuition revenue ranging from $200 to $2,000 plus 0.05% of revenue over $2 million.

Establishes the Student Protection Fund with a catastrophic loss amount of $1.5 million and cap amount of $2 million to compensate students for losses due to school closure, bankruptcy, or license revocation.

Implements licensing standards requiring schools to demonstrate adequate facilities, qualified personnel, financial stability, and compliance with all applicable laws, with Board authority to suspend, revoke, or refuse licenses for violations; operating without a license is a Class 3 misdemeanor.