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The Oregon Administrative Rules contain OARs filed through August 15, 2016
 
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OREGON 529 SAVINGS BOARD

 

DIVISION 6

ELIGIBILITY

173-006-0000

Account Owner

Any person, including a custodian under UGMA/UTMA, who is legally able to contract under applicable state law and who meets federal and state legal requirements governing the network, is eligible to establish an account.

Stat. Auth.: ORS 348.853(2)
Stats. Implemented: ORS 348.841 & 348.873
Hist.: QTSB 1-2001, f. & cert. ef. 1-2-01; QTSB 1-2002(Temp), f. & cert. ef. 6-14-02 thru 12-6-02; Administrative correction 11-10-03; QTSB 1-2010(Temp), f. & cert. ef. 3-25-10 thru 9-15-10; QTSB 2-2010, f. 9-10-10, cert. ef. 9-14-10

173-006-0005

Designated Beneficiary

(1) For a College Savings Plan, there are no restrictions on the age of a designated beneficiary nor any required relationship between the account owner and the designated beneficiary of an account.

(2) For an ABLE Plan the beneficiary and the account owner must be the same person or how designated beneficiaries are defined by the Code.

(3) For a College Savings Plan, there is no limit on the number of accounts that may be opened for one designated beneficiary by different account owners.

(4) For an ABLE Plan only one account can be opened for each beneficiary or as defined by the Code.

(5) For a College Savings Plan, an account owner may also be the designated beneficiary of an account.

Stat. Auth.: ORS 348.853(2)
Stats. Implemented: ORS 348.857(4)
Hist.: QTSB 1-2001, f. & cert. ef. 1-2-01; QTSB 1-2002(Temp), f. & cert. ef. 6-14-02 thru 12-6-02; QTSB 2-2002(Temp), f. & cert. ef. 8-15-02 thru 12-6-02; QTSB 3-2002, f. & cert. ef. 10-29-02; QTSB 1-2010(Temp), f. & cert. ef. 3-25-10 thru 9-15-10; QTSB 2-2010, f. 9-10-10, cert. ef. 9-14-10; CSB 1-2013(Temp), f. 6-12-13, cert. ef. 7-1-13 thru 12-28-13; CSB 2-2013, f. & cert. ef. 12-19-13; OSB 1-2016, f. & cert. ef. 7-28-16

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