13-55E-2. Advance payment contract--Time limitations of benefits.
In accordance with rules promulgated pursuant to chapter 1-26, the executive director may enter into a contract with a purchaser for the advance payment of tuition, room and board, or tuition only costs on behalf of a beneficiary for attendance at one, or a combination of institutions of higher education, without further tuition, room and board, or tuition only costs to the beneficiary, subject to determination of residency status by the appropriate institution of higher education. Except as provided in §13-55E-3, benefits provided under contract shall begin not less than seventeen years from the beginning date of the first fall academic semester following the date of payment.
Source: SL 1994, ch 145, §2.
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.