Mich. Admin. Code R. 390.1811 - Terminations by trust due to fraud
Rule 11. The trust may terminate a contract and provide a refund in an amount equal to the prepaid tuition amount, less a termination fee and educational benefits used, if any of the following have been fraudulently stated in an application or a contract:
(a) The age of the beneficiary or
purchaser.
(b) The grade of the
beneficiary.
(c) The date upon
which the beneficiary may receive benefits under a contract.
(d) The residency of the beneficiary or
purchaser at the time the contract is submitted to the trust.
(e) Other matters as determined by the
board.
Notes
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