(a) Apportionments to a qualifying school which is incorporated by the Board of Regents or pursuant to a general or special law shall be paid to the corporation, or to another corporate entity designated by such corporation to receive apportionments on behalf of such qualifying school.

(b) Apportionments to a qualifying school which is not incorporated shall be paid, on behalf of such school, to a corporate body, designated by such school and approved by the commissioner, whose corporate purposes include the supervision or support of such school, or if there is no such corporate body, to a corporation authorized to do business in this State which is designated by such school, with the approval of the commissioner, for the purpose of receiving such payments for the benefit of such school.