SECTION 807.153. Installment Payments

(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.

Source Note: The provisions of this §807.153 adopted to be effective August 28, 2006, 31 TexReg 6803; amended to be effective November 28, 2022, 47 TexReg 7914