The Commission shall: Establish procedures for transfer of students between the public segments of postsecondary education; Recommend cooperative programs among segments of postsecondary education to assure appropriate flexibility in the higher education system; and In conjunction with the governing boards, establish standards for articulation agreements. The procedures established under subsection (a) of this section shall require: A receiving institution that denies the transfer of a credit or course to an enrolled student to notify the transfer coordinator or institutional designee of the sending institution and the enrolled student about the denial within a time period that the Commission determines to be the latest possible time for the notification and specify the rationale for the denial; The transfer coordinator or institutional designee of the sending institution, after receiving notice of a denial of the transfer of a credit or course, in conjunction with the receiving institution’s designee, to conduct a review within a time period the Commission determines to be appropriate; and Each public institution of higher education to submit an annual report to the Commission listing any denials of the transfer of a credit or course and the reasons for the denials. The Commission, in collaboration with the public institutions of higher education, shall develop and implement a statewide transfer agreement whereby at least 60 credits of general education, elective, and major courses that a student earns at any community college in the State toward an associate of arts or associate of science degree shall be transferable to any public senior higher education institution in the State for credit toward a bachelor’s degree by July 1, 2016. The agreement under paragraph (1) of this subsection shall require that any credits earned for a course at a community college in the State in accordance with § 15–117(b)(3) of this article be transferable to any public institution of higher education in the State. A public institution of higher education in the State may not deny the transfer of credits in accordance with subparagraph (i) of this paragraph for any reason. The Commission, in collaboration with the public institutions of higher education, shall develop and implement a statewide reverse transfer agreement whereby at least 30 credits that a student earns at any public senior higher education institution in the State toward a bachelor’s degree are transferable to any community college in the State for credit toward an associate’s degree by July 1, 2016. The Commission and each public institution of higher education shall develop and implement incentives for students to obtain an associate’s degree before enrolling in a public senior institution of higher education. The Commission may recommend procedures and guidelines for consideration by the governing boards of institutions of postsecondary education on: Improvement and coordination of student financial assistance programs; and Other subjects of general interest and concern to the higher education community in the State.