(a) If a refund is not timely made, the driver education school or course provider
shall pay interest on the amount of the refund. Interest begins to accrue on the first day after the expiration of the refund period
and ends on the day preceding the date the refund is made.
(b) The department shall establish annually the rate of interest for a refund at a
rate sufficient to provide a deterrent to the retention of student money.
(c) The department may except a driver education school or course provider from the
payment of interest if the school or course provider makes a good-faith effort to
refund tuition, fees, and other charges but is unable to locate the student to whom
the refund is owed. On request of the department, the school or course provider shall document the effort
to locate a student.
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