11 Kar 17:010. Definitions For 11 Kar Chapter 17

Link to law: http://www.lrc.ky.gov/kar/011/017/010.htm
Published: 2015

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      11 KAR 17:010. Definitions for 11 KAR

Chapter 17.

 

      RELATES TO: KRS 164A.700-164A.709

      STATUTORY AUTHORITY: KRS 164A.704(1)

      NECESSITY, FUNCTION, AND CONFORMITY: KRS

164A.704(1) requires the board to promulgate administrative regulations to

implement KRS 164A.700 to 164A.709. This administrative regulation establishes

the definitions for 11 KAR Chapter 17.

 

      Section 1. Definitions. (1)

"Application period" means the period during which applications for a

prepaid tuition contract shall be received by the office.

      (2) "Board" means the Board of

Directors of the Commonwealth Postsecondary Education Prepaid Tuition Trust

Fund.

      (3) "Eligible educational

institution" is defined by KRS 164A.700(3).

      (4) "Full-time enrollment"

means, for purposes of determining the payout value of a prepaid tuition

account, sixteen (16) semester hours or the equivalent under a trimester or

quarter system at an eligible educational institution.

      (5) "Fund" is defined by KRS

164A.700(4).

      (6) "KAPT" or "Kentucky's

Affordable Prepaid Tuition Plan" means the name by which the Commonwealth

Postsecondary Education Prepaid Tuition Trust Fund shall be marketed and

promoted, in accordance with KRS 164A.700(4) and 164A.704(9).

      (7) "Mandatory fees" means, for

purposes of determining the value of a prepaid tuition account, fees required

as a condition of enrollment incurred by all students at an eligible

educational institution.

      (8) "Office" means the Tuition

Account Program Office in the Kentucky Higher Education Assistance Authority

that is responsible for administering the prepaid tuition accounts.

      (9) "Prepaid tuition" is

defined by KRS 164A.700(6).

      (10) "Prepaid tuition account"

is defined by KRS 164A.700(9).

      (11) "Prepaid tuition contract"

is defined by KRS 164A.700(10).

      (12) "Projected enrollment

date" means the estimated date that the qualified beneficiary shall be

enrolled and attend an eligible educational institution.

      (13) "Purchaser" is defined by

KRS 164A.700(13).

      (14) "Qualified beneficiary" is

defined by KRS 164A.700(14).

      (15) "Qualified postsecondary

education expenses" is defined by KRS 164A.700(16).

      (16) "Tuition" is defined by

KRS 164A.700(15).

      (17) "Value of a prepaid tuition

account" is defined by KRS 164A.700(18). (30 Ky.R. 757; Am. 1193; eff.

12-1-2003; 31 Ky.R. 377; 698; eff. 11-5-04.)