13-55E-10. Schedule for payment to institutions of higher education.
The executive director shall establish a schedule for payment to institutions of higher education of the tuition, room and board, or tuition only costs on behalf of beneficiaries. Payment under this section may not begin until the beneficiary applies to and is accepted by the institution of higher education. Upon completion or termination of an advance payment contract, the remaining balance of principal and investment earnings accruing to the contract shall be credited to the account established under §13-55E-8.
Source: SL 1994, ch 145, §10.
Structure South Dakota Codified Laws
Chapter 55E - Advance Payment Of Higher Education Costs
Section 13-55E-1 - Definition of terms.
Section 13-55E-2 - Advance payment contract--Time limitations of benefits.
Section 13-55E-3 - Reduction of time limitations of benefits.
Section 13-55E-4 - Specification of payment options.
Section 13-55E-5 - Limitation on tuition benefits in excess of resident tuition costs.
Section 13-55E-7 - Nontransferability--Substitution of beneficiary.
Section 13-55E-8 - Deposits of payments--State fund.
Section 13-55E-9 - Expenditures from fund--Administration costs and fees.
Section 13-55E-10 - Schedule for payment to institutions of higher education.
Section 13-55E-11 - Nonutilization of advance payment contract--Refunds.