Ok the reason it couldn't be a chpater that has closed within the past about 20 years is because Ole miss seems to be soo competitive and sooo steeped in history that MANY MANY girls are legacy and or have a specific chapter in mind arleady when they start rush. When you have a system like that any "negative" (IE this chpater left campus already) is death to a new group. It seems to me they REALLY need to expand.. but, with a system like that it's really hard to break in for the above mentioned reasons.
Who know maybe some completely new sorority is really what Ole Miss needs... like an Alpha Phi, a group with a fairly large national base, but not necessarily in the south... of course it coudl fail miserably... BUT MAYBE enough women would find a new organization interesting and exciting and want to begin its history... I don't think it's VERY likely at Ole Miss, but perhaps it would suprise us.