§ 20-3-611. Accounts; Audits
The board shall annually prepare or cause to be prepared an accounting of the trust and shall transmit a copy of the accounting to the Governor and the General Assembly. The board shall also make available the accounting of the trust to the purchasers of the trust. The accounts of the board shall be subject […]
§ 20-3-612. Requirements for Administration of Trust; Evaluation of Actuarial Soundness; Applicability of Federal Securities Laws
The trust shall be administered in a manner reasonably designed to be actuarially sound such that the assets of the trust will be sufficient to defray the obligations of the trust. In the accounting of the trust made pursuant to Code Section 20-3-611, the board shall annually evaluate or cause to be evaluated the actuarial […]
§ 20-3-613. Contracts for Provision of Services; Programs to Ensure Full Tuition Payment; Exclusive Plans for Community and Junior Colleges; Report to Legislature
The trust, in its discretion, may contract with others, public or private, for the provision of all or a portion of the services necessary for the management and operation of the trust. The trust shall also endeavor to work with private sector investment managers, state institutions of higher education, and independent degree-granting colleges and universities […]
§ 20-3-566. Use of Proceeds From Sale or Lease of Property
The proceeds arising from any sale or lease of property under Code Section 20-3-564 shall be used for the support of the college or for the payment of any debts thereof as the board may determine. History. Code 1981, § 20-3-566 , enacted by Ga. L. 1990, p. 579, § 1.
§ 20-3-614. Preservation of Assets of Trust Fund; Investment in Obligations of State
The assets of the trust fund shall be preserved, invested, and expended solely pursuant to and for the purposes set forth in this article and shall not be loaned or otherwise transferred or used by the state for any purpose other than the purposes of this article. This Code section shall not be construed to […]
§ 20-3-567. Scholarships
The board of trustees shall have the authority to grant to qualified students such scholarships as available funds allow. The board of trustees shall establish rules and regulations governing the eligibility for and awarding of such scholarships; provided, however, that all such scholarships which are funded by money appropriated by the General Assembly of Georgia […]
§ 20-3-615. Admission to or Graduation From Institutions Not Guaranteed
Nothing in this article or in an advance tuition payment contract entered into pursuant to this article shall be construed as a promise or guarantee by the trust or the state that a person will be admitted to a state institution of higher education or to a particular state institution of higher education, will be […]
§ 20-3-600. Short Title
This article shall be known and may be cited as the “College Opportunity Act.” History. Code 1981, § 20-3-600 , enacted by Ga. L. 1990, p. 1448, § 1.
§ 20-3-616. Exemption From Securities Law; Approval Required for Transfer of Advance Tuition Payment Contracts
An advance tuition payment contract shall be exempt from Chapter 5 of Title 10, the “Georgia Uniform Securities Act of 2008.” An advance tuition payment contract may not be sold or otherwise transferred by the purchaser or qualified beneficiary without the prior approval of the trust. History. Code 1981, § 20-3-616 , enacted by Ga. […]
§ 20-3-601. Legislative Findings
The General Assembly finds and declares the following: It is an essential function of state government to encourage schools and the means of education, as provided in Article VIII, Section I, Paragraph I of the Constitution; It is a responsibility of state government to maintain state institutions of higher education as provided by Article VIII, […]