Sec. 54.770. ACTUARIAL SOUNDNESS OF FUND. (a) The board shall administer the fund in a manner that is sufficiently actuarially sound to pay the costs of program administration and operations and to meet the obligations of the program.
(b) The board shall annually evaluate the actuarial soundness of the fund.
(c) The board may adjust the terms of subsequent prepaid tuition contracts as necessary to ensure the actuarial soundness of the fund.
Added by Acts 2007, 80th Leg., R.S., Ch. 1281 (H.B. 3900), Sec. 1, eff. June 15, 2007.
Structure Texas Statutes
Subtitle A - Higher Education in General
Subchapter H. Prepaid Tuition Unit Undergraduate Education Program: Texas Tomorrow Fund Ii
Section 54.752. Powers and Duties of Board Concerning Program
Section 54.753. Prepaid Tuition Units: Purchase; Assigned Value; Types; Price
Section 54.754. Redemption of Tuition Units
Section 54.755. Prepaid Tuition Contract
Section 54.756. Purchaser; Beneficiary
Section 54.757. Contract Payment
Section 54.758. Deferred Use of Prepaid Credit Hours
Section 54.759. Change of Beneficiary
Section 54.760. Verification Under Oath
Section 54.761. Promise or Guarantee of Admission
Section 54.762. Contract Termination
Section 54.765. Comptroller's Duties; Transfers to Institutions on Redemption of Tuition Units
Section 54.766. Investment of Fund Assets
Section 54.767. Use of Fund Assets
Section 54.7671. Transfers Among 529 Plans
Section 54.768. Exemption From Securities Laws
Section 54.769. Exemption From Creditors' Claims
Section 54.770. Actuarial Soundness of Fund
Section 54.771. Compliance With Limits on Contributions and Withdrawals
Section 54.772. Tax Exempt Status Requirements
Section 54.773. Suspension of New Enrollment; Program Modification or Termination
Section 54.774. Effect of Program Termination on Contract
Section 54.775. Confidentiality
Section 54.776. Statement Regarding Status of Prepaid Tuition Contract