Sec. 54.767. USE OF FUND ASSETS. The assets of the fund may be used only to: (1) pay the costs of program administration and operations; (2) make payments to general academic teaching institutions, two-year institutions of higher education, private or independent institutions of higher education, medical and dental units, career schools, accredited out-of-state institutions of higher education, and registered apprenticeship programs on behalf of beneficiaries; and (3) make refunds under prepaid tuition contracts.
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