Title 011 | Chapter 017 | Regulation 080
11 KAR 17:080.Terminating a prepaid tuition contract.
Section 1.
Termination.(1)
To terminate a contract pursuant to KRS 164A.709(2)(a) or (5), the following documentation shall be submitted in a written request to the office to terminate a prepaid tuition contract:(a)
For termination due to the death or disability of a qualified beneficiary, the purchaser shall submit sufficient documentation evidencing the death or disability of the qualified beneficiary; or(b)
For termination due to a qualified beneficiary's receipt of a scholarship to an eligible educational institution, the purchaser shall submit sufficient documentation evidencing the beneficiary's eligibility of the scholarship and the scholarship amount.(2)
In accordance with KRS 164A.709(2)(a) or (5), a purchaser shall be notified of the date of the termination of the prepaid tuition contract and any applicable refund amount.Section 2.
Termination Due to Fraud or Misrepresentation. If a prepaid tuition contract is terminated by the board pursuant to KRS 164A.709(8) due to the fraud or misrepresentation of a purchaser or qualified beneficiary, a refund shall be:(1)
Paid in accordance with 11 KAR 17:090; and(2)
Offset by the applicable fees and costs incurred by the board as a result of the fraud or misrepresentation.HISTORY: (30 Ky.R. 763; 1196; eff. 12-1-2003; Cert eff. 9-28-2018; Cert. eff. 10-1-2024.)
11 KAR 17:080.Terminating a prepaid tuition contract.
Section 1.
Termination.(1)
To terminate a contract pursuant to KRS 164A.709(2)(a) or (5), the following documentation shall be submitted in a written request to the office to terminate a prepaid tuition contract:(a)
For termination due to the death or disability of a qualified beneficiary, the purchaser shall submit sufficient documentation evidencing the death or disability of the qualified beneficiary; or(b)
For termination due to a qualified beneficiary's receipt of a scholarship to an eligible educational institution, the purchaser shall submit sufficient documentation evidencing the beneficiary's eligibility of the scholarship and the scholarship amount.(2)
In accordance with KRS 164A.709(2)(a) or (5), a purchaser shall be notified of the date of the termination of the prepaid tuition contract and any applicable refund amount.Section 2.
Termination Due to Fraud or Misrepresentation. If a prepaid tuition contract is terminated by the board pursuant to KRS 164A.709(8) due to the fraud or misrepresentation of a purchaser or qualified beneficiary, a refund shall be:(1)
Paid in accordance with 11 KAR 17:090; and(2)
Offset by the applicable fees and costs incurred by the board as a result of the fraud or misrepresentation.HISTORY: (30 Ky.R. 763; 1196; eff. 12-1-2003; Cert eff. 9-28-2018; Cert. eff. 10-1-2024.)