| (a) A prepaid tuition contract remains in effect after
the program is terminated if, when the program is terminated, the
beneficiary:
(1) has been accepted by or is enrolled at a general
academic teaching institution, two-year institution of higher education,
private or independent institution of higher education, medical and
dental unit, career school, or accredited out-of-state institution
of higher education; or
(2) is projected to graduate from high school not later
than the third anniversary of the date the program is terminated.
(b) A prepaid tuition contract terminates when the
program is terminated if the contract does not remain in effect under
subsection (a) of this section.
(c) For contracts that are terminated pursuant to subsection
(b) of this section, the purchaser is entitled to a refund of the
Refund Value, less any fees that are past due and payable to the program
under the board's fee schedule.
|
| Source Note: The provisions of this §7.141 adopted to be effective August 27, 2008, 33 TexReg 6957; amended to be effective September 21, 2010, 35 TexReg 8503; amended to be effective April 5, 2020, 45 TexReg 2317 |
