Virginia Enacts Revisions to Private School Bond Amounts

private school

On July 27, 2015, the Virginia Board of Education introduced new regulations for private day schools for students with disabilities.

These new regulations include an increased bond amount. Now, for every 25 students enrolled, the private school must post a bond of $10,000 rather than $5,000. There is also a $5,000 requirement for each additional 25 students (formerly 50 students). The new revisions can be found in Title 8 Agency 20 Chapter 671 of the Virginia Administrative Code.

What’s changed?

Prior to these amendments, the bond amount required was $5,000 if the private school enrolled up to 50 students. For each additional group of 50 students enrolled, the school needed to post an extra $5,000 bond in addition to the original $5,000 bond.

What does this bond do?

This private day school for students with disabilities bond exists in order to protect the students enrolled. If the school were to file for bankruptcy or close for other various reasons, the parents or guardians of the students enrolled would not face any financial losses as a result.

It is illegal to operate a private school without obtaining a surety bond. If a school is found in violation or if the bond is terminated without filing a replacement bond, the school’s license will be revoked within 30 days.

Who is affected?

Individuals in Virginia who operate private day schools for students with disabilities will need to contact a surety provider in order to change their current bond premiums. Those who do not update their bonds to fit the newest regulations may face possible legal conflicts, such as the loss of a business license or closure of the school.

What are the next steps?

For more information on private day schools for students with disabilities bond or licensing requirements, please contact the Virginia Board of Education.

Photo Courtesy amrufm (CC BY 2.0)

About the Author

Emily Jo Pahl
Emily attends the University of Wisconsin - Stevens Point and is pursuing a degree in media communications and creative writing. She is a member of the marketing department and outreach team for SuretyBonds.com, a leading provider of online bonding for clients nationwide.