SDCL 13-55E-1 Definition of Terms

• Library: South Dakota Statutes
• Edition: 2023
• Currency: Current through the 2023 Legislative Session
• Year: 2023
• Citation: SDCL 13-55E-1

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;