NAC353B.440. Award of scholarship to qualified beneficiary that duplicates benefits to be provided under contract.

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     1. Upon the receipt of a written request signed by a purchaser and such documentation as the Board deems adequate to prove that the qualified beneficiary has been awarded a scholarship to attend an eligible educational institution which duplicates all the benefits to be provided pursuant to the contract, the Board will:

     (a) Amend the contract to change the identity of the qualified beneficiary and waive the required fee for the change; or

     (b) Terminate the contract and provide to the purchaser a refund according to the terms of the master agreement.

     2. As used in this section, “scholarship” does not include a loan.

(Added to NAC by Bd. of Trustees for Higher Educ. Tuition Trust Fund by R009-99, eff. 11-3-99; A by Bd. of Trustees of College Savings Plans of Nev. by R150-03, 8-25-2004; R055-09, 10-27-2009)

                    
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