South Dakota Codified Laws 13-55E-6. Obligations under contract–No guarantee of admission, resident status, orgraduation
The executive director shall make necessary arrangements with the appropriate institution of higher education to fulfill the obligation under the advance payment contract. An institution of higher education shall admit the beneficiary of the contract if the beneficiary otherwise qualifies for admission. This section and any advance payment contract entered into pursuant to this article may not guarantee that the beneficiary will:
(1) Be admitted to an institution of higher education;
Terms Used In South Dakota Codified Laws 13-55E-6
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Contract: A legal written agreement that becomes binding when signed.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(2) If admitted, be determined a resident for tuition purposes by the appropriate institution of higher education;
(3) Be allowed to continue attendance at an institution of higher education following admission; or
(4) Graduate from an institution of higher education.
Source: SL 1994, ch 145, § 6.