| (a) With the exception of the renewal installment schedule
for small schools, a school may elect to pay any single fee in excess
of $1,000 by quarterly installment. A service charge of 10 percent
of the fee shall be added, and the total divided into equal quarterly
installment payments. The first payment shall be due on the date the
fee is due. The successive payments shall be due in 90-day increments.
(b) Failure to pay any installment by the due date
may result in one or more of the following:
(1) a penalty being assessed in the amount of 50 percent
of the total amount of the fee;
(2) full payment of the penalty and outstanding balance
due within 30 days; or
(3) revocation of the school's certificate of approval.
(c) For a small school that has a multiyear term, if
the appropriate payment is not received by the anniversary date of
the certificate of approval, the school shall, in addition to the
required fee, pay a penalty of $200 within 20 days or the school's
certificate of approval may be revoked.
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