Section 13-55E-1 - Definition of terms. - South Dakota Statutes

13-55E-1. Definition of terms. Terms used in this chapter mean:
(1) "Advance payment contract," a contract entered into by the executive director and a purchaser pursuant to this chapter to provide for the higher education of a beneficiary;
(2) "Beneficiary," the person designated within the advance payment contract to receive tuition, room and board, or tuition only at a state-supported institution of higher education;
(3) "Executive director," the executive director of the Board of Regents;
(4) "Institution of higher education," any state-supported university;
(5) "Purchaser," any person obligated to make an advance payment of tuition, room and board, or tuition only costs on behalf of a beneficiary pursuant to an advance payment contract;
(6) "Room and board costs," the amount assessed for lodging and regularly scheduled meals provided to students pursuant to a contract for room and board with an institution of higher education;
(7) "Tuition costs," the amount assessed for full-time enrollment at an institution of higher education including mandatory fees imposed upon all full-time students as a condition of enrollment.

Source: SL 1994, ch 145, § 1.