South Dakota § 13-55E-11 - Nonutilization of advance payment contract--Refunds.
Full text of South Dakota South Dakota Codified Laws § 13-55E-11 — Nonutilization of advance payment contract--Refunds., with citation guidance and answers to common questions.
§ 13-55E-11. Nonutilization of advance payment contract--Refunds.
If the beneficiary dies, is not admitted to an institution of higher education following proper application, elects to not attend an institution of higher education or if attending, elects to discontinue higher education or for any other circumstance approved by the executive director does not utilize the advance payment contract, the executive director shall terminate or modify the contract and except as provided under § 13-55E-3, refund to the purchaser, to any person designated by the purchaser by contract or to the legal representative of the purchaser, the amount of the one-time advance payment together with interest compounded annually at a rate of four percent. A purchaser or other qualified person may request a refund in accordance with this section at any time following the one-time advance payment. The amount of refund payable under this section shall be proportionately reduced for each academic semester the beneficiary attends an institution of higher education.
Source: SL 1994, ch 145, § 11.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 13-55E-11
What does South Dakota Codified Laws § 13-55E-11 cover?
Section 13-55E-11 ("Nonutilization of advance payment contract--Refunds.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 13-55E-11?
A common citation format is "South Dakota Codified Laws § 13-55E-11" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 13-55E-11 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.