Application

Application . Any individual desiring to enter into an MPACT Contract on behalf of a Qualified Beneficiary must submit a completed Application to the State Treasurer. The Application will be considered incomplete and will not be accepted unless it is accompanied by the Application Processing Fee described in Rule 12.2A. The MPACT Application Form is hereby incorporated by reference. By completing the Application and submitting the Application Processing Fee, the Purchaser is making application to enter into an MPACT Contract. The MPACT Application will become part of the formal Contract between the MPACT Program, on behalf of the Board, and the Purchaser. After review and acceptance of the Application by the State Treasurer, the Purchaser will be mailed a Participation and Payment Schedule. Both of these documents become part of the formal Contract between MPACT and the Purchaser. To be complete, an Application must be accompanied by the Application Processing Fee and must contain all of the information that the State Treasurer determines is necessary for proper administration of the enrollment process. The MPACT Contract will be valid at such time as the State Treasurer accepts the Purchaser and Beneficiary into the Program and transmits a Participation and Payment Schedule to the Purchaser. Source: Miss. Code Ann. § 37-155-9 (Rev. 2003). Rule10.3 Naming the Qualified Beneficiary. Unless specifically exempted by the State Treasurer a Purchaser must name the Qualified Beneficiary in the MPACT Application at the time the Application is submitted. Only one (1) Qualified Beneficiary is allowed per MPACT Contract. The Purchaser does not have to designate the Postsecondary Institution that the Beneficiary will attend until such time as the Qualified Beneficiary matriculates and in accordance with Rule 11.4. If more than one (1) Purchaser has submitted an Application for the same Beneficiary, the State Treasurer will determine which Application is accepted on behalf of the Qualified Beneficiary.