(a) (1) Except as provided in paragraph (2) of this subsection, an institution of higher education approved by the Commission to operate in the State that does not possess regional accreditation from the Commission on Accreditation of the Middle States Commission on Higher Education or another regional accrediting body approved by the Commission shall require its students to sign a letter of acknowledgment that the transfer of credits may be difficult if the student intends to transfer the credits to a regionally accredited institution of higher education in the State.

(2) An institution of higher education in the State that does not possess regional accreditation from a regional accrediting body referenced in paragraph (1) of this subsection is exempt from the requirements of this section if the institution of higher education has written articulation agreements with three or more regionally accredited institutions of higher education in the State.

(b) The institution shall keep on file the letter of acknowledgment required under subsection (a) of this section while the student attends the institution and for 2 years or more after the student completes the course.

(c) The Commission shall:

(1) Create a template for the letter of acknowledgment required under subsection (a) of this section; and

(2) Post the template on the Commission’s website.