§18-2F-7 Conversion of shares. - West Virginia Statutes

§18-2F-7. Conversion of shares.

Shares are cumulative from one school year to the next school year and may be converted to a pro rata share of the total fund available upon graduation from an accredited West Virginia high school. The share in your future commission shall promulgate rules in accordance with article three-b, chapter twenty-nine-a of this code, to determine the pro rata share of the total fund that each share represents.

Upon graduation from an accredited West Virginia high school, each student has the right to cash in his or her respective shares for a voucher that may be spent at any accredited state institutions of higher education, post-secondary vocational education programs or higher educational institutions, all as defined in section two, article one, chapter eighteen-b of this code, and other approved and accredited post-secondary educational programs located in West Virginia participating in the program: Provided, That the share in your future commission may implement the conversion of shares to vouchers at the close of the school year ending in the year one thousand nine hundred ninety-five.

The share in your future commission may have a share certificate designed, which is similar in design to stock certificates, which shall include the student's name, the number of shares and certification by the governor of West Virginia and the superintendent of schools that the shares were earned. Upon receipt by the share in your future commission of the report provided for in section eight of this article, the commission may complete share certificates based upon the report and forward the certificates to the appropriate county board. The county board shall notify the student and at an appropriate time shall deliver the certificate to the student.