NAC353B.220. Provision of benefits: Accrual of benefits if tuition rate is less than amount of benefit payment; refund.

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If a qualified beneficiary enrolls in an eligible educational institution that charges tuition at a rate that is less than the amount of the benefit payment determined by the Board pursuant to NAC 353B.205, the Board will remit to the eligible educational institution the actual amount of tuition charged to that qualified beneficiary and accrue any remaining benefit amount. The Board will provide a refund to the purchaser for any such accrued benefits according to the terms of the master agreement.

(Added to NAC by Bd. of Trustees of College Savings Plans of Nev. by R055-09, eff. 10-27-2009)

                    
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