Texas § ED.54.621 - BENEFICIARY
Full text of Texas The Texas Constitution § ED.54.621 — BENEFICIARY, with citation guidance and answers to common questions.
§ ED.54.621. BENEFICIARY
BENEFICIARY. (a) Except as provided by Subsection (d), the beneficiary of a prepaid tuition contract must be younger than 18 years of age or 18 years of age or older and enrolled in high school at the time the purchaser enters into the contract and must be: (1) a resident of this state at the time the purchaser enters into the contract; or (2) a nonresident who is the child of a parent who is a resident of this state at the time that parent enters into the contract. (b) The board may require a reasonable period of residence in this state for a beneficiary or the parent of a beneficiary. (c) Notwithstanding any provision of Subchapter B, the tuition and required fees charged by an institution of higher education for semester hours and fees that are paid for by a prepaid tuition contract shall be determined as if the beneficiary of that contract were a resident student. (d) In order to provide sufficient time for program investments to mature in an actuarially sound manner with regard to the amounts prepaid under a contract entered into after December 31, 2003, the board may require a maturity period between the time a purchaser enters into the contract and the time the board must act on its contractual obligation to pay any tuition or fees on behalf of the beneficiary. Added by Acts 1995, 74th Leg., ch. 1032, Sec. 1, eff. Sept. 1, 1995. Amended by Acts 1997, 75th Leg., ch. 522, Sec. 2, eff. Sept. 1, 1997. Amended by: Acts 2005, 79th Leg., Ch. 888 (S.B. 1528 ), Sec. 7, eff. September 1, 2005. Acts 2007, 80th Leg., R.S., Ch. 1054 (H.B. 2173 ), Sec. 10, eff. June 15, 2007.
Frequently Asked Questions About Texas § ED.54.621
What does The Texas Constitution § ED.54.621 cover?
Section ED.54.621 ("BENEFICIARY") is part of the The Texas Constitution, the codified statutory law of Texas. 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 Texas § ED.54.621?
A common citation format is "The Texas Constitution § ED.54.621" (Texas). 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 Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § ED.54.621 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas 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 Texas.