Okla. Stat. tit. 70, § 70-6007
This is the official text of Okla. Stat. tit. 70, § 70-6007, part of Oklahoma’s Stat. tit. 70, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 70,." Browse the sections below, each linked to its official government source.
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Payments on behalf of beneficiaries - Scholarship
Official statutory text
refunds.
A. Within thirty (30) days of written notice to the Regents
that a qualified beneficiary is enrolled in and attending classes
for a given semester, quarter, term, or session, the Regents shall
pay to the appropriate institution of higher education the then
actual in-state fees on behalf of the qualified beneficiary.
B. If a qualified beneficiary or a nonresident beneficiary
receives a scholarship which reduces the cost of tuition at the
institution of higher education which such beneficiary attends, then
the institution of higher education shall notify the Regents of the
scholarship and its amount. The Regents shall refund the amount of
the scholarship to the person designated in the contract as the
appropriate person to receive a refund. The Regents shall pay to
the institution of higher education the tuition amount less the
scholarship amount. The refund amount shall be treated by the
recipient of the refund as ordinary income for the year in which it
is received.
A. Within thirty (30) days of written notice to the Regents
that a qualified beneficiary is enrolled in and attending classes
for a given semester, quarter, term, or session, the Regents shall
pay to the appropriate institution of higher education the then
actual in-state fees on behalf of the qualified beneficiary.
B. If a qualified beneficiary or a nonresident beneficiary
receives a scholarship which reduces the cost of tuition at the
institution of higher education which such beneficiary attends, then
the institution of higher education shall notify the Regents of the
scholarship and its amount. The Regents shall refund the amount of
the scholarship to the person designated in the contract as the
appropriate person to receive a refund. The Regents shall pay to
the institution of higher education the tuition amount less the
scholarship amount. The refund amount shall be treated by the
recipient of the refund as ordinary income for the year in which it
is received.
Status: in_force · Read it on the official government site
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