There Is a Newer Version of the Kentucky Revised Statutes
  1. 2025 Kentucky Rev. Stat.
  2. 2024 Kentucky Rev. Stat.
  3. 2023 Kentucky Rev. Stat.
  4. 2011 Kentucky Rev. Stat. (here)
  5. View All Versions
View Our Newest Version Here

2011 Kentucky Revised Statutes
CHAPTER 164A HIGHER EDUCATION FINANCE
164A.708 Prepaid tuition contracts entered into before and after April 25, 2006 -- Obligations of the Commonwealth.

Universal Citation:
KY Rev Stat § 164A.708 (1996 through Reg Sess)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
Download pdf

164A.708 Prepaid tuition contracts entered into before and after April 25, 2006 -Obligations of the Commonwealth. (1) (a) (b) (2) (a) (b) (c) All prepaid tuition contracts in existence on April 25, 2006, shall be supported by the full faith and credit of the Commonwealth. If the report of the actuary submitted under KRS 164A.704(7) reflects that there will be a real liability expected to accrue for contracts in existence on April 25, 2006, during the next biennium, the secretary of the Finance and Administration Cabinet shall include in the budget request for the cabinet an appropriation to the board in an amount necessary to meet the real liability in each fiscal year of the biennium, and the General Assembly shall appropriate the necessary funds to meet the liability. New contracts entered into after April 25, 2006, for a tuition plan approved by the board shall contain actuarially sound premiums sufficient to prevent their contribution to a program fund deficit. Payments received from contracts entered into after April 25, 2006, shall be maintained separately from contracts in existence on April 25, 2006. The Commonwealth shall have no obligation to support contracts entered into after April 25, 2006, with appropriations if a shortfall occurs. Effective: April 25, 2006 History: Created 2006 Ky. Acts ch. 252, Pt. XXXI, sec. 2, effective April 25, 2006.
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.