Maze v. Board of Directors for the Commonwealth Postsecondary Education Prepaid Tuition Trust Fund

At issue was various statutory amendments to the Kentucky Affordable Prepaid Tuition Fund (KAPT) contracts previously purchased by Appellants.The Court of Appeals reversed the judgment of the trial court concluding that the 2014 statutory changes affecting the 2003 contracts for prepaid college tuition entered into by Maze and the Board did not alter Appellants’ contracts, concluding that Appellants had expressly agreed to be bound by amendments to the contracts imposed by future statutory and regulatory changes. The Supreme Court reversed, holding (1) the KAPT contracts entered into by Appellants, and the underlying enabling statutes, did not authorize the contractual changes imposed by the retroactive application of the statutory amendments at issue in this case; and (2) the retroactive imposition of those amendments upon Appellants unlawfully impaired their contracts in violation of U.S. Const. art. I, 10 and Ky. Const. 19. View "Maze v. Board of Directors for the Commonwealth Postsecondary Education Prepaid Tuition Trust Fund" on Justia Law