9049244, 19B-5.004 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 9049244

Notice of Proposed Rule

Department:

STATE BOARD OF ADMINISTRATION

Division:

Florida Prepaid College Board

Chapter:

ADVANCE PAYMENT CONTRACT BENEFITS

Overview

RULE:

19B-5.004

Contract Purchasers (Repealed)

PURPOSE:

This rule is amended to specify the rights of purchasers and co-purchasers for 4-Year Florida University Plans, 2 + 2 Florida Plans, 4-Year Florida College Plans and 2-Year Florida College Plans. The amendment provides that the purchaser’s and co-purchaser’s approval is required for changes of the purchaser, co-purchaser or beneficiary for advance payment contracts which include one of those plans, the purchaser and co-purchaser of those plans each enjoy a survivorship right for each other, the purchaser and co-purchaser must authorize termination of an advance payment contract which includes one of those plans and the purchaser and co-purchaser must approve any refund request associated with a terminated advance payment contract which included one of those plans.

SUMMARY:

This rule change specifies the rights of purchasers and co-purchasers of the 4-Year Florida University Plans, 2 + 2 Florida Plans, 4-Year Florida College Plans and 2-Year Florida College Plans which will be offered for sale in the enrollment period for the Florida Prepaid College Plan which will begin on October 18, 2010.

RULEMAKING AUTHORITY:

1009.971(1), (4), (6) FS.

LAW:

1009.98 FS.

PRINT PUBLISH DATE:

8/27/2010 Vol. 36/34

COMMENTS:

From 8/27/2010 To 9/17/2010 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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