166.201. As used in sections 166.200 to 166.242, sections 173.053 and 173.262, RSMo, the following terms mean:
(1) "Advance tuition payment contract", a contract entered into by the trust and a purchaser pursuant to the provisions of sections 166.200 to 166.242, sections 173.053 and 173.262, RSMo, to provide for the higher education of a qualified beneficiary;
(2) "Board", the board of directors of the Missouri access to higher education trust;
(3) "Fund", the Missouri access to higher education trust fund created in section 166.207;
(4) "Pell grant", a federal grant for undergraduate students based on financial need and, for the purposes of sections 166.200 to 166.242, sections 173.053 and 173.262, RSMo, determines financial need;
(5) "Purchaser", a person who makes or is obligated to make advance tuition payments pursuant to an advance tuition payment contract;
(6) "Qualified beneficiary", any resident of this state named as a beneficiary in an advance tuition payment contract;
(7) "State institution of higher education", any college, university, or community junior college supported in whole or in part out of state funds specifically appropriated for operations;
(8) "Trust", the Missouri access to higher education trust created in section 166.203;
(9) "Tuition", any tuition or other fees charged by a state institution of higher education for attendance at that institution as a student by a resident of this state;
(10) "Weighted average tuition cost of state institutions of higher education", the tuition cost arrived at by adding the products of the annual undergraduate tuition cost at each state institution of higher education and its total number of undergraduate fiscal year equated students, and then dividing the gross total of this cumulation by the total number of undergraduate fiscal year equated students attending state institutions of higher education.
(L. 1988 H.B. 1456 § 2)
Missouri General Assembly