§ 33-5212 — SCHOOL CLOSURE AND DISSOLUTION

(1) Authorizers shall have a public charter school closure protocol to ensure timely notification to parents, orderly transition of students and student records to new schools, and proper disposition of school funds, property, and assets in accordance with the requirements of this chapter. The protocol shall specify tasks, timelines, and responsible parties, including delineating the respective duties of the school and the authorizer. In the event of a public charter school closure for any reason, the authorizer shall oversee and work with the closing school to ensure a smooth and orderly closure and transition for students and parents, as guided by the closure protocol. The closing school’s charter holder shall be responsible for executing the school’s closure.
(2) In the event of a public charter school closure, the assets of the school shall be distributed first to satisfy outstanding payroll obligations for employees of the school, including any tax, public employee retirement system, and other employee benefit obligations, then to creditors of the school, and then to the authorizer in the case of a public charter school authorized by the board of a local school district. In the case of a public charter school authorized by any other authorizer, any remaining assets shall be distributed to the public school income fund. Assets purchased using federal funds shall be returned to the authorizer for redistribution among other public charter schools. If the assets of the school are insufficient to pay all parties to whom the school owes compensation, the prioritization of the distribution of assets may be determined by decree of a court of law.

Legislative History

[33-5212, added 2024, ch. 9, sec. 35, p. 79.]