PARRIS N. GLENDENING, Governor

Ch. 89

Article—Education

11-105.

(h) (1) On or before a date set by the Commission, each of the following
governing boards and agencies shall submit to the Commission its annual operating
budget requests and proposals for capital projects, by constituent institutions for the next
fiscal year;

(i)     The Board of Regents of the University of Maryland System;

(ii)    The Board of Regents of Morgan State University;

(iii)   The Board of Trustees of St. Mary's College of Maryland;

(iv)    The Maryland Higher Education Loan Corporation;

(v)     The State Advisory Council for Title I of the Higher Education Act

of 1965; [and]
AND

(vi) —The Board of Trustees of Baltimore City Community College;

(VII) THE BOARD OF THE MARYLAND HIGHER EDUCATION
TUITION TRUST FUND.
SUBTITLE 21. MARYLAND HIGHER EDUCATION TUITION TRUST FUND.
18-2101.

(A)     IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED.

(B)     "BOARD" MEANS THE BOARD OF THE MARYLAND HIGHER EDUCATION
TUITION TRUST FUND.

(C) "FUND" MEANS THE MARYLAND HIGHER EDUCATION TUITION TRUST
FUND.

(D) "PREPAID TUITION CONTRACT" MEANS A CONTRACT BETWEEN THE
BOARD AND A PURCHASER UNDER THE PROVISIONS OF THIS SUBTITLE FOR THE
ADVANCE PAYMENT OF UNDERGRADUATE TUITION AT A FIXED AND GUARANTEED
LEVEL BY THE PURCHASER FOR A QUALIFIED BENEFICIARY TO ATTEND A 2-YEAR
OR 4 YEAR PUBLIC INSTITUTION OF HIGHER EDUCATION IN THE STATE, IF THE
QUALIFIED BENEFICIARY IS ADMITTED TO THE INSTITUTION.

(E) "PURCHASER" MEANS AN INDIVIDUAL WHO MAKES OR UNDERTAKES THIS
OBLIGATION TO MAKE ADVANCE PAYMENTS OF UNDERGRADUATE TUITION AS
PROVIDED UNDER A PREPAID TUITION CONTRACT.

(F) "QUALIFIED BENEFICIARY" MEANS AN INDIVIDUAL WHO IS ELIGIBLE TO
APPLY ADVANCE TUITION PAYMENTS TO UNDERGRADUATE TUITION AT A PUBLIC
INSTITUTION OF HIGHER EDUCATION IN THIS STATE UNDER THIS PROVISIONS OF
THIS SUBTITLE AND WHO IS:

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