Mich. Admin. Code R. 390.1811

Current through Vol. 24-17, October 1, 2024

Section R. 390.1811 - Terminations by trust due to fraud

Rule 11. The trust may terminate a contract and provide a refund in an amount equal to the prepaid tuition amount, less a termination fee and educational benefits used, if any of the following have been fraudulently stated in an application or a contract:

(a) The age of the beneficiary or purchaser.

(b) The grade of the beneficiary.

(c) The date upon which the beneficiary may receive benefits under a contract.

(d) The residency of the beneficiary or purchaser at the time the contract is submitted to the trust.

(e) Other matters as determined by the board.

Mich. Admin. Code R. 390.1811

1992 AACS