New Hampshire Code of Administrative Rules
Csp - N.H. College Tuition Savings Plan Advisory Commission (See RSA 195-H:3.)
Chapter Csp 700 - NEW HAMPSHIRE COLLEGE TUITION PLAN UNIQUE ENDOWMENT ALLOCATION PROGRAM
Part Csp 701 - PROGRAM ADMINISTRATION
Section Csp 701.05 - Conditions of Allocations to Institutions
Current through Register No. 12, March 21, 2024
(a) Allocations to institutions under the UEAP shall be made only to eligible institutions within the state which shall have executed an endowment allocation agreement with the commission and provided a certificate of good standing and certificate of authority.
(b) The commission shall make funds available to the participating institutions based upon the endowment distribution formula as described in Csp 702.01.
(c) The participating institution shall invest the allocated funds in a restricted endowment, the earnings from which shall be used exclusively to provide awards to eligible students, and such funds shall not be used to defray any costs incurred in connection with the administration of the UEAP or any other program;
(d) The grantee shall distribute such awards to eligible students at an amount at least equal to 4% of the restricted endowment account balance annually, subject to RSA 292-B, Uniform Prudent Management of Institutional Funds Act (UPMIFA) or other regulatory restrictions.
(e) Participating institutions shall provide annually, by October 15 following the end of the fiscal year for which an allocation has been distributed, a report on the status of the UEAP.
(f) The report shall include the following:
#8623, eff 5-4-06
