| (a) Not later than January 31 of each year, the plan
manager shall make available online without charge to each purchaser
a statement of:
(1) the amount paid by the purchaser under the prepaid
tuition contract;
(2) the total number of each type of tuition unit covered
by the contract at any one time;
(3) the number of each type of tuition unit remaining
under the contract;
(4) the number of each type of tuition unit that has
met the three-year holding period;
(5) the value of the purchasers' tuition units if redeemed
at a general academic teaching institution or two-year institution
of higher education designated for that year by the purchaser in the
time and manner required by the board, not to exceed five institutions,
with such information being provided in the tuition unit redemption
chart developed pursuant to §7.125(d) of this title (relating
to Redemption of Tuition Units); and
(6) any other information the board determines is necessary
or appropriate.
(b) As soon as feasible after the end of the calendar
year, the plan manager shall provide a written statement without charge
to each purchaser reflecting the information listed in subsection
(a) of this section, covering activities in the account through the
end of the calendar year.
(c) The plan manager shall provide a separate accounting
for each designated beneficiary.
(d) The plan manager shall also provide a statement
if tuition units are redeemed under the contract during the year,
and if any other distributions are made under the contract that calendar
year.
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