Texas Education Code 54.641 – Statement Regarding Status of Prepaid Tuition Contract
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(a) Not later than January 31 of each year, the board shall furnish without charge to each purchaser a statement of:
(1) the amount paid by the purchaser under the prepaid tuition contract;
(2) the number of credit hours originally covered by the contract;
(3) the number of credit hours remaining under the contract; and
(4) any other information the board determines by rule is necessary or appropriate.
(b) The board shall furnish a statement complying with Subsection (a) to a purchaser or beneficiary on written request. The board may charge a reasonable fee for each statement furnished under this subsection.
Terms Used In Texas Education Code 54.641
- 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.
- Rule: includes regulation. See Texas Government Code 311.005
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
- Year: means 12 consecutive months. See Texas Government Code 311.005