| (a) If the program is terminated a prepaid tuition contract
remains in effect if the beneficiary has been accepted by or is enrolled in
an institution of higher education, a private or independent institution of
higher education, or a proprietary school, or the beneficiary is projected
to graduate from high school not later than the third anniversary of the date
the program terminated.
(b) For contracts that do not remain in effect pursuant to
subsection (a) of this section, the amount of the refund shall be the amount
determined by the board at the time the program is terminated.
|
