As used in the Oklahoma Tuition Trust Act: 1. 'Advance tuition payment contract' means a contract entered into by the Trust and a purchaser to provide for the higher education of a qualified beneficiary;2. 'Regents' means the Oklahoma State Regents for Higher Education;3. 'Purchaser' means a person who makes or is obligated to make advance tuition payments pursuant to an advance tuition payment contract;4. 'Qualified beneficiary' means any resident of this state, eligible and entitled to attend a state institution of higher education without further in-state tuition payment pursuant to an advance tuition payment contract;5. 'Institution of higher education' means a state-supported institution of higher education within this state, which is designated by the Regents as an institution of higher education for purposes of the Oklahoma Tuition Trust Act;6. 'Trust' means the Oklahoma Tuition Trust;7. 'Tuition' means the general enrollment fees imposed each semester upon residents of this state to attend a state institution of higher education including all mandatory special fees required as a condition of enrollment as determined by the State Regents for Higher Education;8. s of this state to attend a state institution of higher education including all mandatory special fees required as a condition of enrollment as determined by the State Regents for Higher Education;8. 'Nonresident tuition' means the semester charges imposed upon nonresidents of this state to attend a state institution of higher education including all general enrollment fees, nonresident tuition payments and mandatory special fees as determined by the State Regents for Higher Education; and9. 'Eligibility period' means the period of time in which a qualified beneficiary may exercise the rights granted in an advance payment contract.Added by Laws 1988, c. 261, § 3, emerg. eff. June 29, 1988.
Oklahoma Legal Code