Company: LGCY
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010844
Chunk: 169

Company: Legacy Education Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 169
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School Acquisitions.”

The
approval processes for state and accrediting agencies vary in scope and timing with some agencies requiring approval prior to the acquisition
and others not conducting their review until after the acquisition has taken place. With regard to the agencies that accredit CCMCC and
CCMCC Online, authorize them to operate in the state of California, or approve their programs.

    ●
    California
    Bureau for Private Postsecondary Education (“BPPE”): Institutions that are licensed by BPPE by means of accreditation,
    like CCMC, are required to notify BPPE of the change within 30 days of the change and demonstrate that the substantive change was
    made in accordance with the institution’s accreditation standards. CCMCC submitted an Application for a Change of Business
    Organization/Control/Ownership to BPPE on January 16, 2025 which included ACCET’s approval of the change of ownership. By letter
    dated January 31, 2025, BPPE approved CCMCC to operate under its new ownership.

    ●
    Accrediting
    Council for Continuing Education and Training (“ACCET”): ACCET accreditation standards require that institutions
    undergoing a change in ownership or control submit notice at least ten days prior to a prospective agreement for the change. ACCET
    also requires submission of an application for approval of the change in ownership or control within ten days following the change.
    CCMCC submitted the application on December 27, 2024. By letter dated January 15, 2025, ACCET reinstated CCMCC’s accreditation
    following the change in ownership. 

    ●
    California
    State Approving Agency for Veterans Education (“CSAAVE”): CSAAVE requires approved institutions to make a post-change
    submission to CSAAVE for approval of the change when there has been a material change to the institution’s current approval.
    CCMCC provided notice to CSAAVE of the change on November 12, 2024, and submitted the change of ownership forms. On April 28, CCMCC
    provided additional information to CSAAVE regarding its reapproval and the material change, and is awaiting approval from CSAAVE.

    ●
    Accreditation
    Bureau of Health Education Schools (“ABHES”): ABHES requires institutions that hold ABHES programmatic accreditation
    to notify it of any change in organizational oversight or legal structure, and to submit a completed application for change