March 21-22, 2002

MONTANA BOARD OF REGENTS OF HIGHER EDUCATION
Policy and Procedures Manual

SUBJECT:  FINANCIAL AFFAIRS
Policy 940.22 - Room reserve deposit and refund schedule
November 18, 1999; Issued December 10, 1999

Board Policy: 

            1.  Presidents and chancellors may establish room reserve deposits according to the following procedures: 

Procedures: 

  1. Room deposits may not exceed $100.00. 
  2. The entire deposit must be applied against the required room and board charges when the student registers. 
  3. Room deposits must be refunded as follows: 
    1. 100% if the student cancels the reservation in writing by July 15.
    2. 50% if the student cancels the reservation in writing by August 15. 
    3. No refund will be paid for notices received after August 15. 
  4. Deposits will be retained in the auxiliary accounts.  

History:

                Item 26-009-R0180, Room reserve deposit and refund schedule, Montana University System, January 7, 1980, as revised October 29, 1982 and November 18, 1999 (Item 104-103-R0999).

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