KAR 15:050. Disbursement.
TO: KRS 164.7885(4)
AUTHORITY: KRS 164.748(4), 164.7885(7)
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.
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
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.
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.
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.)