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 Oklahoma Statutes (Last Updated: September 18, 2014)
 Title 70. SCHOOLS

  § 70-6002. Definitions.  

Latest version.

  • As used in the Oklahoma Tuition Trust Act:

    1.  "Advance tuition payment contract" means a contract entered into by the Trust and a purchaser to provide for the higher education of a qualified beneficiary;

    2.  "Regents" means the Oklahoma State Regents for Higher Education;

    3.  "Purchaser" means a person who makes or is obligated to make advance tuition payments pursuant to an advance tuition payment contract;

    4.  "Qualified beneficiary" means any resident of this state, eligible and entitled to attend a state institution of higher education without further in-state tuition payment pursuant to an advance tuition payment contract;

    5.  "Institution of higher education" means a state-supported institution of higher education within this state, which is designated by the Regents as an institution of higher education for purposes of the Oklahoma Tuition Trust Act;

    6.  "Trust" means the Oklahoma Tuition Trust;

    7.  "Tuition" means the general enrollment fees imposed each semester upon residents of this state to attend a state institution of higher education including all mandatory special fees required as a condition of enrollment as determined by the State Regents for Higher Education;

    8.  "Nonresident tuition" means the semester charges imposed upon nonresidents of this state to attend a state institution of higher education including all general enrollment fees, nonresident tuition payments and mandatory special fees as determined by the State Regents for Higher Education; and

    9.  "Eligibility period" means the period of time in which a qualified beneficiary may exercise the rights granted in an advance payment contract.

Added by Laws 1988, c. 261, § 3, emerg. eff. June 29, 1988.