(a) If a career school or college closes, the commission shall attempt to arrange for students of the closed school or college to attend another school or college, regardless of whether the school or college is a career school or college.
(b) The expense incurred by a school or college, regardless of whether the school or college is a career school or college, in providing a teachout that is directly related to educating a student placed in the school or college under this section, including the applicable tuition for the period for which the student has paid tuition, shall be paid from the career school or college tuition trust account.

(c) If the student cannot be placed in another school or college, regardless of whether the school or college is a career school or college, the student’s tuition and fees shall be refunded under § 132.061(d).
(d) If a student does not accept a place that is available and reasonable in another school or college, regardless of whether the school or college is a career school or college, the student’s tuition and fees shall be refunded under the refund policy maintained by the closing career school or college under § 132.061.
(e) For each closed career school or college, refunds shall be paid from the career school or college tuition trust account in an amount not to exceed $150,000.
(f) If another school or college, regardless of whether the school or college is a career school or college, assumes responsibility for the closed career school’s or college’s students with no significant changes in the quality of training, the student is not entitled to a refund under Subsection (c) or (d).
(g) Attorney’s fees, court costs, or damages may not be paid from the career school or college tuition trust account.