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The Oregon Administrative Rules contain OARs filed through June 15, 2014
 
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OREGON 529 COLLEGE SAVINGS BOARD

 

DIVISION 7

CHANGE IN ACCOUNT OWNERSHIP OR DESIGNATED BENEFICIARY

173-007-0000

Change of Account Ownership

(1) An account owner may designate a successor account owner who shall become the new account owner upon the death, resignation or legal incompetence of the original account owner. This designation may be made by an account owner in the application or at any time thereafter by submitting to the appropriate plan a written designation of a successor account owner containing the information required by the appropriate plan. A designation of a successor account owner shall not be effective until registered in the records of the plan. In the event a successor account owner is not designated by an account owner, the successor account owner shall be determined by the appropriate plan.

(2) If a change in the ownership of an account is required by a court order by a court of competent jurisdiction directing such change of ownership or by an affidavit or declaration that meets the requirements of the appropriate plan for transfer of ownership upon death without a court order, such change of account ownership shall not be effective until the appropriate plan receives the court order or affidavit or declaration requiring such change, and the change of account ownership is registered in the records of the appropriate plan, unless otherwise required by law.

(3) An account owner may change ownership of the account to another eligible person by executing such forms or following such procedures as required by the appropriate plan.

(4) An account owner who is a custodian under UGMA/UTMA may only transfer ownership of the account in accordance with the requirements, if any, of UGMA/UTMA and the plan under which the account was opened.

(5) The ownership of an account whose account owner is a custodian under UGMA/UTMA shall be transferred to the designated beneficiary or the designated beneficiary's estate, as required by UGMA/UTMA, upon submission by the custodian and/or designated beneficiary of any documentation required by the board.

Stat. Auth.: ORS 348.853(2)
Stats. Implemented: ORS 348.853(2)
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

173-007-0005

Change of Designated Beneficiary

An account owner (other than an account owner who is a custodian under UGMA/UTMA) may change the designated beneficiary of the account as permitted under Section 529 of the Code and OAR chapter 173. A change of designated beneficiary shall not be effective until the appropriate plan receives a written request containing the information required by the appropriate plan and such change is registered in the records of the appropriate plan.

Stat. Auth.: ORS 348.853(2)
Stats. Implemented: ORS 348.867(1) & 348.853(2)
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

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