Oklahoma § 70-6002 - Definitions

§ 70-6002. Definitions

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;

Oklahoma Statutes - Title 70. Schools

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.