Mississippi Administrative Code
Title 38 - Treasurer
Part 3 - Mississippi Prepaid Affordable College Tuition Program (Horizon Contracts)
Chapter 9 - The MPACT Contract
Rule 38-3-9.14 - MPACT Contract Payment Methods

Universal Citation: MS Code of Rules 38-3-9.14
Current through September 24, 2024

Any one of a variety of payment methods is available to an MPACT Contract Purchaser. These methods may include, but are not limited to, coupon book, ACH (Automatic Clearing House), or payroll deduction. A Purchaser may change payment method after submitting a written request to the State Treasurer.

Automatic payroll deduction may be provided for State employees. Any other employer desiring to establish automatic payroll deduction for MPACT Contract Purchasers may do so as long as the payroll deduction is administered in accordance with specifications provided by the State Treasurer.

Contract Purchasers electing payment by coupon book will be responsible for making all payments on time, even if the Purchaser has not received a coupon book. Similarly, a Purchaser will be responsible for making all payments on time, prior to implementation of payroll deduction or automatic deduction from a checking or savings account. Any Purchaser who delays payment beyond the payment due date until a coupon book has been issued or until payroll deduction or automatic bank deduction has been implemented may be assessed late payment fees and an Actuarial Assessment.

Miss. Code Ann. § 37-155-9 (Rev. 2003).

Disclaimer: These regulations may not be the most recent version. Mississippi may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.