When a training program provider considers closing a program, the training program provider shall: Notify the Board in writing of: The intended closing date; and The arrangements for custody and safeguarding of student and graduate records; and Continue the program until the committed class schedule of currently enrolled students is completed. Custody of Student Records. If the training program provider is a facility or educational institution that will continue to function, the facility or educational institution shall assume responsibility for the student and graduate records of the closed training program. Except as provided in §B(1) of this regulation, a training program provider that is required to obtain approval from the Maryland Higher Education Commission (MHEC) shall file student and graduate records, or legible copies of those records, with MHEC in accordance with Education Article, §11-401, Annotated Code of Maryland. A training program provider that is not required to obtain MHEC approval shall reach a mutual agreement with the Board about the disposition of student records.