34 Tex. Admin. Code § 7.141 - Effect of Program Termination on Contract
(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.
Notes
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