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Permit of Approval:
Change of Ownership Application

Hand Shake Approval

Permit of Approval - Change of Ownership

This application must be submitted when there is a change of ownership that is 50 percent or more of the school’s stock or assets.


The following links will open up the documents you need to complete and submit to IBHE to apply for the change of ownership. You can save the documents in one of two ways: either (1) right click and select “save link as” or (2) click on the link opening the document and then save the blank application files to your computer.

Files are pdf, MS Word, and MS Excel formats. Some need to be completed and returned; others are for your information.
Once you complete all items, follow the instructions in the document “Application” under the “General Information” section that explains how to submit them as a package to the IBHE for consideration.

Note that fees are assessed for the review of applications. The fees were approved so that IBHE would have the staff to review applications and complete PBVS oversight activities. Payment of the fee does not guarantee approval of the change of ownership request.

Cover Page (pdf)
Application (doc)
IBHE_Surety_Bond_Form (pdf)
Enrollment Agreement Requirements and Sample (docx)
PBVS Refund Policy Guidelines (pdf) (Revised April 2013)
Academic Catalog Requirements (pdf) 

Questions regarding the application or review process can be directed to