(a) Each public institution of higher education may honor credit cards as payment for:
(1) Tuition and fees;
(2) Room and board; and
(3) Any goods or services purchased from other auxiliary enterprises.
(b) The governing boards of the institutions shall determine which credit cards are acceptable for this purpose. However, a public institution may not accept a credit card from any credit card company which charges that institution a vendor discount, service charge or similar fee in excess of 2.5 percent.
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