Indiana § 21-18.5-6-7 Quarterly contributions to fund; determination

Indiana Statutes

§ 21-18.5-6-7 — Quarterly contributions to fund; determination

Indiana § 21-18.5-6-7

Title 21HIGHER EDUCATION

Art. 18.5ADMINISTRATION OF HIGHER EDUCATION

Ch. 6Postsecondary Credit Bearing Proprietary Educational

This text of Indiana § 21-18.5-6-7 (Quarterly contributions to fund; determination) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 21-18.5-6-7 (2026).

Text

(a)Except as otherwise provided in this section, each postsecondary credit bearing proprietary educational institution shall make quarterly contributions to the fund. The quarters begin January 1, April 1, July 1, and October 1.

(b)For each quarter, each postsecondary credit bearing proprietary educational institution shall make a contribution equal to the STEP THREE amount derived under the following formula: STEP ONE: Determine the total amount of tuition and fees earned during the quarter. STEP TWO: Multiply the STEP ONE amount by one-tenth of one percent (0.1%). STEP THREE: Add the STEP TWO amount and sixty dollars ($60).

(c)After June 30, 2012, upon the career college student assurance fund achieving at least an initial balance of five hundred thousand dollars ($500,000), a postsec

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Except as otherwise provided in this
section, each postsecondary credit bearing proprietary educational
institution shall make quarterly contributions to the fund. The quarters
begin January 1, April 1, July 1, and October 1.
(b) For each quarter, each postsecondary credit bearing proprietary
educational institution shall make a contribution equal to the STEP
THREE amount derived under the following formula:
STEP ONE: Determine the total amount of tuition and fees earned
during the quarter.
STEP TWO: Multiply the STEP ONE amount by one-tenth of one
percent (0.1%).
STEP THREE: Add the STEP TWO amount and sixty dollars
($60).
(c) After June 30, 2012, upon the career college student assurance
fund achieving at least an initial balance of five hundred thousand
dollars ($500,000), a postsecondary credit bearing proprietary
educational institution that contributes to the career college student
assurance fund when the initial quarterly contribution is required under
this chapter after the fund's establishment is not required to make
contributions to the fund.
(d) The board for proprietary education shall determine the number
of quarterly contributions required for the career college student
assurance fund to initially accumulate five hundred thousand dollars
($500,000).
(e) Except as provided in subsections (a), (b), and (f), a
postsecondary credit bearing proprietary educational institution that
begins making contributions to the career college student assurance
fund after the initial quarterly contribution as required under this
section shall make contributions to the fund for the same number of
quarters as determined by the board for proprietary education under
subsection (d).
(f) If, after a career college student assurance fund acquires five
hundred thousand dollars ($500,000), the balance in the fund becomes
less than two hundred fifty thousand dollars ($250,000), all
postsecondary credit bearing proprietary educational institutions not
required to make contributions to the career college student assurance
fund as described in subsection (c) or (e) shall make contributions to
the career college student assurance fund for the number of quarters
necessary for the fund to accumulate five hundred thousand dollars
($500,000).