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KAR 15:050. Disbursement.

 

      RELATES

TO: KRS 164.7885(4)

      STATUTORY

AUTHORITY: KRS 164.748(4), 164.7885(7)

      NECESSITY,

FUNCTION, AND CONFORMITY: KRS 164.748(4) requires the authority to promulgate

administrative regulations pertaining to the awarding of grants, scholarships,

and honorary scholarships as provided in KRS 164.740 to 164.785. KRS

164.7885(7) requires the authority to promulgate administrative regulations for

the administration of the Kentucky Educational Excellence Scholarship Program.

This administrative regulation establishes the disbursement procedures for

Kentucky Educational Excellence scholarships.

 

      Section

1. Disbursement of Funds. (1) KEES funds shall be disbursed by the authority to

the participating institution in the form of a single check, made payable to

the participating institution, or by electronic funds transfer delivered to the

participating institution for subsequent delivery to the eligible postsecondary

student.

      (2)

Within thirty (30) days following receipt of the eligibility verification file,

the disbursement of KEES funds by the authority to the participating

institution shall be made for subsequent delivery by the institution to an

eligible postsecondary student.

 

      Section

2. Delivery of funds by the participating institution. (1) The participating

institution shall be responsible for proper delivery of KEES funds. The

participating institution shall not make KEES funds available to the eligible

postsecondary student nor apply the funds to the recipient's account prior to

the date that the eligible postsecondary student has completed the registration

requirements (except for the payment of tuition and fees) at the participating

institution for the academic term for which the Kentucky Educational Excellence

Scholarship is disbursed.

      (2)

The participating institution shall be liable for delivery to the wrong person

or to an ineligible student and shall make restitution to the authority of an

amount improperly delivered. Failure of the participating institution to make

restitution as required shall, without precluding other remedies, be deemed

cause for limitation, suspension, or termination of the participation of the

institution in accordance with 11 KAR 4:020. (25 Ky.R. 470; Am. 818; eff.

10-1-98; 27 Ky.R. 1040; eff. 12-21-2000.)