13-55E-13. Promulgation of rules.

168 words·~1 min read·/sd/title-13/chapter-13-55/13-55e-13

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Rules necessary to administer this chapter shall be promulgated jointly by the executive director and the state treasurer pursuant to chapter 1-26 . Rules adopted pursuant to this section shall include policies and procedures governing the:

(1)Receipt of payments from purchasers on behalf of beneficiaries;

(2)Accounting and reporting to purchasers of payments deposited and invested in accordance with this chapter;

(3)Period of time during which the beneficiary may receive benefits under the contract;

(4)Terms and conditions under which contracts may be terminated or modified, refunds may be granted and direct payment of benefits may be made pursuant to § 13-55E-11 ;

(5)Provisions of contract benefits at institutions of higher education;

(6)Payment to institutions of higher education on behalf of beneficiaries;

(7)Imposition of fees to cover costs incurred for the administration of this chapter not to exceed the limitation imposed under § 13-55E-9 ; and

(8)Other terms, conditions, and provisions determined necessary for advanced payment contracts and benefits provided under contracts.