(a) If the program is terminated a prepaid tuition contract remains in effect if the beneficiary has been accepted by or is enrolled in an institution of higher education, a private or independent institution of higher education, or a proprietary school, or the beneficiary is projected to graduate from high school not later than the third anniversary of the date the program terminated.
(b) For contracts that do not remain in effect pursuant to subsection (a) of this section, the amount of the refund shall be the amount determined by the board at the time the program is terminated.

Source Note: The provisions of this §7.83 adopted to be effective January 8, 1996, 20 TexReg 11124; amended to be effective February 16, 2000, 25 TexReg 1123