Section 54.626 - Contract Payment(a) The board may provide for the receipt of payments under prepaid tuition contracts in lump sums or installment payments. If the board allows payments under a contract to be made in installments over a period longer than one year, it must provide for those payments to be made in single annual installments in addition to any other permitted installment plans.(b) A purchaser may make payments under a prepaid tuition contract by electronic funds transfer.(c) An employee of the state or a political subdivision of the state may make payments under a prepaid tuition contract by payroll deductions made by the appropriate officer of the state or political subdivision.(d) The board may impose a fee for a late payment under a prepaid tuition contract.Amended by Acts 1997, 75th Leg., ch. 95, Sec. 1, eff. 5/15/1997.Added by Acts 1995, 74th Leg., ch. 1032, Sec. 1, eff. 9/1/1995.