353B.090 - Development of Program by Board; regulations. - Nevada Statutes

353B.090  Development of Program by Board; regulations.

      1.  The Board shall develop the Nevada Higher Education Prepaid Tuition Program for the prepayment of tuition at a guaranteed rate which is established based on the annual actuarial study required pursuant to NRS 353B.190 for undergraduate studies at a university, state college or community college that is a member of the System.

      2.  The Board shall adopt regulations for the implementation of the Program, including, without limitation, regulations setting forth requirements for residency, a limit on the number of qualified beneficiaries, the termination, withdrawal and transfer of money paid into the Trust Fund, the time within which the money paid into the Trust Fund must be used, and payment schedules.

      (Added to NRS by 1997, 3484; A 2001, 2163, 2166; 2005, 364)