Title 20

All properties owned or held by the board of trustees pursuant to this article which have been declared to be the public property of the state may be sold, leased, or otherwise disposed of by the board, whenever the board may deem such sale, lease, or other disposition in the bes…

In case of any sale, lease, or disposition of property under Code Section 20-3-564, the board of trustees, through its proper officers, and the Governor, on behalf of the state, shall execute and deliver such written evidence of title or of the creation of a leasehold interest as…

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. (Code 1981, § 20-3-566, enacted by Ga. L. 1990, p. 579, § 1.)

(a) 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 s…

This article shall be known and may be cited as the ‘‘College Opportunity Act.’’ (Code 1981, § 20-3-600, enacted by Ga. L. 1990, p. 1448, § 1.)

The General Assembly finds and declares the following: (1) 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; (2) It is a responsibility of state government to m…

In light of the findings described in Code Section 20-3-601, the General Assembly declares that the purposes of the Georgia Education Trust created by this article are: (1) To encourage education and the means of education; (2) To maintain state institutions of higher education b…

As used in this article, the term: (1) ‘‘Advance tuition payment contract’’ means a contract entered into by the trust and a purchaser pursuant to this article to provide for the higher education of a qualified beneficiary. (2) ‘‘Board’’ means the board of commissioners of the Ge…

(a) There is created a public body corporate and politic to be known as the Georgia Education Trust. The trust shall be within the Georgia Student Finance Commission. (b) The purposes, powers, and duties of the trust are vested in and shall be exercised by a board of commissioner…

(a) The trust, on behalf of itself and the state, may contract with a purchaser for the advance payment of tuition by the purchaser for a qualified beneficiary to attend any of the state institutions of higher education to which the qualified beneficiary is admitted, without furt…

(a) At a minimum, the trust shall offer contracts of the two types set forth in paragraphs (1) and (2) of this subsection, to be known as Plan A and Plan B, respectively. (1) Under Plan A: (A) A payment or series of installment payments of not less than $50.00 per month shall be …

(a) An advance tuition payment contract shall authorize a termination of the contract when any one of the following occurs: (1) The qualified beneficiary dies; (2) The qualified beneficiary is not admitted to a state institution of higher education after making proper application…

(a) There is created under the jurisdiction and control of the board and within the trust an advance tuition payment fund. Payments received by the trust from purchasers on behalf of qualified beneficiaries or from any other source, public or private, shall be placed in the fund.…

(a) The business which the board may perform shall be conducted at a public meeting of the board held in compliance with Chapter 14 of Title 50. Public notice of the time, date, and place of the meeting shall be given in the manner required by subsection (e) of Code Section 50-14…

In addition to the powers granted by other provisions of this article, the board shall have the powers necessary or convenient to carry out and effectuate the purposes, objectives, and provisions of this article, the purposes and objectives of the trust, and the powers delegated …

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 o…

(a) 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. (b) In the accounting of the trust made pursuant to Code Section 20-3-611, the board shall annu…

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 instituti…

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 secti…

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 instit…

On and after July 1, 1991, all costs of organization, administration, and operation of the trust shall be paid solely from application fee funds and investment income of the trust. (Code 1981, § 20-3-617, enacted by Ga. L. 1990, p. 1448, § 1.) ARTICLE 11 GEORGIA HIGHER EDUCATION …

This article shall be known and may be cited as the ‘‘Georgia Higher Education Savings Plan Act.’’ (Code 1981, § 20-3-630, enacted by Ga. L. 2001, p. 76, § 1.)

The purposes of this article are to: (1) Provide a program or programs of savings trust agreements to apply distributions toward qualified higher education expenses at eligible educational institutions, as defined in Section 529 of the Internal Revenue Code or other applicable fe…

As used in this article, the term: (1) ‘‘Account contributor’’ means a resident or nonresident person, corporation, trust, charitable organization, or other entity which contributes to or invests money in a savings trust account under the program on behalf of a beneficiary. For r…

(a)(1) There is created the Georgia Higher Education Savings Plan, as a body corporate and politic and an instrumentality of the state, for purposes of establishing and maintaining the Georgia Higher Education Savings Plan Trust Fund and qualified tuition programs under Section 5…

(a) The plan, through one or more programs, shall make savings trust agreements and savings trust accounts available to the public, under which account owners or account contributors may make contributions on behalf of qualified beneficiaries. Contributions and investment earning…

(a)(1) There is created the Georgia Higher Education Savings Plan Trust Fund as a separate fund in the state treasury. The trust fund shall be administered by the state treasurer. The state treasurer shall credit to the trust fund all amounts transferred to such fund. The trust f…

The trust fund property and income shall be subject to taxation by the state only as provided by Code Section 48-7-27 and shall not be subject to taxation by any of the state’s political subdivisions. (Code 1981, § 20-3-636, enacted by Ga. L. 2001, p. 76, § 1.)

(a) The board shall have authority to establish a comprehensive investment plan for the purposes of this article and to invest any funds of the trust fund through the state treasurer. The state treasurer shall invest the trust fund moneys pursuant to an investment policy adopted …

(a) The board shall furnish, subject to reasonable administrative fees and charges, to each account owner an annual statement of the following: (1) The amount contributed under the savings trust agreement; (2) The annual earnings and accumulated earnings on the savings trust acco…

This article is not a promise or guarantee that any beneficiary will be: (1) Admitted to any institution of higher education; (2) Admitted to a particular institution of higher education after admission; (3) Allowed to continue enrollment at an institution of higher education; or…

Nothing in this article or in any savings trust agreement entered into pursuant to this article shall be construed as a promise or guarantee by the state or any agency or instrumentality of the state that either qualified higher education expenses in general or any specific quali…

Notwithstanding any state law to the contrary, no moneys on deposit in any savings trust account shall be considered an asset of the parent, guardian, or student for purposes of determining an individual’s eligibility for a need based grant, need based scholarship, or need based …

(a) The provisions of Article 4 of Chapter 18 of Title 50 notwithstanding, the following records, or portions thereof, shall not constitute public records and shall not be open to inspection by the general public: (1) Completed savings trust account applications, executed savings…

From funds appropriated by the General Assembly for such purpose, there is created a program of grants for the payment of postsecondary tuition, ancillary fees, and living expenses for Georgia foster children and adopted children. Such grants shall be subject to the following ter…

Definitions. Authority to establish and maintain junior colleges. Payments from regents to local operating authorities; local support from fees and taxes; audits. Regents to fix policies and standards; inspections and supervision; withholding state funds from substandard junior c…

Creation; members, officers, and staff; quorum; procedural rules and regulations; assignment to Department of Administrative Services. Powers of the authority. Authority to issue revenue bonds; terms. Form of bonds; denominations; place of payment; registration. Signing, sealing,…

Acceptance of grants and contributions from federal and other sources. Moneys received deemed trust funds. Fixing, collecting, and assigning rentals and charges for use of projects. Rules and regulations for operation of projects. Accounts; audits. Power of regents to issue reven…

Legislative findings; purpose of commission. Definitions. Creation of commission as successor to State Scholarship Commission; transfer of assets. Functions and composition of board of commissioners; appointment, qualifications, and terms of commissioners; board officers; meeting…

For article contrasting guaranty with suretyship in Georgia, see 2 Ga. B. J. 25 (1939). For article, “The Distinction Between Guaranty and Suretyship in Georgia,” see 9 Ga. B. J. 273 (1947). For comment discussing distinction between guaranty and suretyship, in light of McCallum …

Legislative findings; purposes of authority. Definitions. Authority created as successor to Georgia Higher Education Assistance Authority. Functions, composition, organization, and conduct of affairs of board of directors. Authority officers and employees; bonds. Powers and dutie…

Composition; powers and duties generally. Terms of office. Vacancies. Chairman. Appointment of secretary; duties; bond. Duty of members to attend meetings; vacation of office for unexcused absences. Inspections of institutions by committees; reports. Per diem allowances and trave…

State Veterinary Education Board. Purchases of loans made for educational purposes to students who have completed a veterinary medical degree program. Loan purchases granted to applicants based upon services rendered; limitations. Contract; cancellation. Funding. Adoption of rule…

Advance tuition payment contract authorized; form and contents of contract. Types of advance tuition payment contracts; alternative provisions. Termination of advance tuition payment contracts; refunds. Advance tuition payment fund; expenditure of trust assets. Public meetings; w…

Division to administer part. Declaration of printed material as surplus; preparation of inventory of material; transmission of inventory to division; filing of duplicate copy. Determination of archival value of surplus printed material; release of material to division; notation o…

sional association as a condition of enrollment prohibited. Advisory board of College of Veterinary Medicine — Creation; officers; meetings. Advisory board of the College of Veterinary Medicine — Duties; cooperation of college personnel. Advisory board of the College of Veterinar…