Volume 799, Page 2756 View pdf image |
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Ch. 382 2003 LAWS OF MARYLAND 18-1909. (a) The Board shall establish [a program of] prepaid contracts UNDER THE (1) A community college; (2) A 4-year college; (3) A university; or (4) Any combination of a community college, college, or university. (b) (1) For the purpose of entering into a prepaid contract, either the (2) For the purposes of determining residency for the purchase of a (i) For residency in Maryland, "resident" has the meaning stated (ii) For residency in the District of Columbia, "resident" has the (c) The cost of a prepaid contract shall be based on: (1) The average current in-State tuition costs at the time the prepaid (2) The number of years expected to elapse between the purchase of a (3) The projected tuition costs at the time that the benefits will be (d) Each prepaid contract made under the provisions of this subtitle shall (1) The amount of each payment and the number of payments required (2) The terms and conditions under which [purchasers] ACCOUNT (3) Provisions for late payment charges and defaults; (4) Penalties for early withdrawal from the [Program] TRUST; (5) The amount and terms of any administrative fees that must be paid - 2756 -
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Volume 799, Page 2756 View pdf image |
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