South Dakota Codified Laws 13-55E-9. Expenditures from fund–Administration costs and fees
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Expenditures from the fund established under § 13-55E-8 shall be for payments to institutions of higher education on behalf of beneficiaries, payments of refunds and direct payment of benefits in accordance with § 13-55E-10 and for costs of administering this chapter. Administration fees shall be specified by contract and may not exceed two percent of investment earnings accruing to the fund.
Terms Used In South Dakota Codified Laws 13-55E-9
- Contract: A legal written agreement that becomes binding when signed.
Source: SL 1994, ch 145, § 9.