applicant shall describe its organization and governance structures in its
written plan, including:
charts, administrative responsibilities showing the lines of authority and the
relationships among component units and personnel; and
(2) Evidence of a governing board of 7 or
more people of which fewer than one-half have any financial interest in the
institution as an employee, stock-holder or corporate director.
The governing board who will
be responsible for the general policies and control of the institution and
(1) Meet at least twice in each
fiscal year; and
(2) Keep written
minutes of the actions taken at these formal meetings or otherwise maintain a
record of proceedings.
(c) The role of trustees, administrators,
faculty, and students and the nature and extent of the involvement of each in
the determination of policies and the resolution of issues, including academic
program and curriculum development.