1. (a) A school shall document refunds by written record indicating the date of the refund transaction, the name of the student receiving the refund, the total amount refunded, and the specific reason for the refund. Proof of consummation shall be on file within 120 days of the effective date of termination and shall include:

   1. (1) copies of both sides of the cancelled check;
   2. (2) printed proof of completed transaction of electronic funds transfer or other similar electronic means; or
   3. (3) documentation of an awarded credit to a credit card or other similar account.

2. (b) To ensure a school's good faith effort to timely consummate a refund owed directly to a student, the student's file shall contain evidence of the following proof of a certified mailing of the refund to the:

   1. (1) student's last known address;
   2. (2) student's permanent address, if different from the student's last known address; or
   3. (3) address of the student's parent or legal guardian, if different from the student's last known and permanent addresses.
3. (c) If after making a good faith effort to timely consummate a refund, the school is unable to consummate the refund, the school shall forward to the Commission the appropriate refund amount and any pertinent student information to assist the Commission in locating the student.

Source Note:The provisions of this §807.192 adopted to be effective August 16, 1998, 23 TexReg 8479.