S.C. Code Regs. § § 19-1205

Current through Register Vol. 48, No. 10, October 25, 2024

Section 19-1205 - Program Organization

A. Scope and Purpose: This regulation sets forth the guidelines for the general daily operations of the Program.

B. Agency Organization:

1. The Program is created as a program within the Board.

2. The Program staff is composed of the following persons:

(a) The director who must be appointed and supervised by the Executive Director of the Board. The director must be a state official or employee upon assuming the position.

(b) Other support staff as determined by the director.

C. Statutory Provision: The primary statutory provisions affecting the operation of the Program are located at Title 59, Chapter 4 of the South Carolina Code of Laws, 1976, and any additional provisions enacted by the Legislature addressing the Program.

D. Public Information and Inspection of Records: The public records of the Program are generally available for public inspection pursuant to the "Freedom of Information Act". Persons wishing to inspect public records may ordinarily do so during normal business hours subject to the scheduling of Program staff to assist. Appointments for public inspection of records should be made to ensure staff availability.

E. Program Parameters:

1. The Program is authorized to enter into all necessary contracts for services, supplies, goods, space, and equipment including the authority to hire temporary consultants, employees, actuaries, managers, legal counsel, auditors, marketing services, and other professional and technical expertise.

2. The Fund must be invested and managed as directed by the Board.

3. The Program may accept gifts, grants, and other financial assistance from any source.

4. The Program shall establish the procedures by which a contributor may purchase a tuition prepayment contract on behalf of a designated beneficiary entitling the designated beneficiary to the waiver, payment, or partial payment of certain qualified higher educational expenses.

5. The Program shall establish and implement application procedures, prepare and distribute necessary forms and documents, and prepare and distribute Program annual reports.

6. The Program shall establish other policies, procedures, and criteria to implement and administer the provisions of the enabling Act.

7. The Program shall establish eligibility requirements for designated beneficiaries including, but not limited to, a requirement of residency in this State.

8. The Program shall provide adequate safeguards to prevent a contributor from making contributions to an account on behalf of a designated beneficiary in excess of those necessary to provide for the qualified higher education expenses of the designated beneficiary.

9. The Program shall prepare reports required by state and Federal law.

F. Confidentiality of Information: Information that identifies the contributors or designated beneficiaries of a tuition prepayment contract and their advance payment account activities is confidential and must not be disclosed without the consent of the designated beneficiary, in accordance with a judicial order, or to those persons with an official need to access the information.

G. Limited Liability to the State: Any act or undertaking of the Program shall not constitute a debt of the State or any agency, department, institution, or political subdivision, or a pledge of the full faith and credit of the State or any agency, department, institution, or political subdivision, but is payable solely from the Fund.

S.C. Code Regs. § 19-1205

Added by State Register Volume 22, Issue No. 6, Part 1, eff June 26, 1998.