13-55E-9. Expenditures from fund--Administration costs and fees.
Expenditures from the fund established under §13-55E-8 shall be for payments to institutions of higher education on behalf of beneficiaries, payments of refunds and direct payment of benefits in accordance with §13-55E-10 and for costs of administering this chapter. Administration fees shall be specified by contract and may not exceed two percent of investment earnings accruing to the fund.
Source: SL 1994, ch 145, §9.
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.