13-55E-13. Promulgation of rules.
Rules necessary to administer this chapter shall be promulgated jointly by the executive director and the state treasurer pursuant to chapter 1-26. Rules adopted pursuant to this section shall include policies and procedures governing the:
(1)Receipt of payments from purchasers on behalf of beneficiaries;
(2)Accounting and reporting to purchasers of payments deposited and invested in accordance with this chapter;
(3)Period of time during which the beneficiary may receive benefits under the contract;
(4)Terms and conditions under which contracts may be terminated or modified, refunds may be granted and direct payment of benefits may be made pursuant to §13-55E-11;
(5)Provisions of contract benefits at institutions of higher education;
(6)Payment to institutions of higher education on behalf of beneficiaries;
(7)Imposition of fees to cover costs incurred for the administration of this chapter not to exceed the limitation imposed under §13-55E-9; and
(8)Other terms, conditions, and provisions determined necessary for advanced payment contracts and benefits provided under contracts.
Source: SL 1994, ch 145, §13.