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Ch. 96
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2007 Laws of Maryland
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FOR the purpose of altering the circumstances under which certain refunds are
available from the Maryland Prepaid College Trust; and generally relating to
the Maryland Prepaid College Trust.
BY repealing and reenacting, without amendments,
Article - Education
Section 18-1910(a)
Annotated Code of Maryland
(2006 Replacement Volume)
BY repealing and reenacting, with amendments,
Article - Education
Section 18-1910(b)
Annotated Code of Maryland
(2006 Replacement Volume)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Education
18-1910.
(a) (1) The Board shall issue refunds as specified in this section.
(2) Unless authorized by the Board or under subsection (b) of this
section, a refund may not exceed the amount paid into the Trust by the account holder.
(b) A refund equal to the same benefits as provided by the prepaid contract,
minus any amount paid out of the funds of the Trust on behalf of the qualified
beneficiary and for reasonable administrative charges, shall be made if the
beneficiary:
(1) [Graduates early from college or is] IS awarded a scholarship or
tuition remission that covers benefits provided under the prepaid contract; or
(2) Dies or suffers from a disability which prevents the beneficiary
from attending an institution of higher education within the time allowed by this
subtitle.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
July 1, 2007.
Approved by the Governor, April 10, 2007.
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- 982 -
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