Sec. 14.40.817. Definitions.

173 words·~1 min read·/ak/title-14/chapter-40/14-40-817

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

In AS 14.40.803 — 14.40.817,

(1)“advance college tuition savings contract” or “contract” means a contract entered into by the board and a purchaser to provide for the qualified higher education expenses of a beneficiary;

(2)“beneficiary” means a designated beneficiary as defined under 26 U.S.C. 529(e)(1) (Internal Revenue Code);

(3)“board” means the Board of Regents of the university;

(4)“eligible educational institution” has the meaning given in 26 U.S.C. 135(c)(3) (Internal Revenue Code);

(5)“fund” means the Alaska advance college tuition savings fund established under AS 14.40.803 ;

(6)“plan” means the formal plan for administration of an advance college tuition savings program adopted by the board under AS 14.40.809 (b);

(7)“purchaser” means the person who is named in the contract and has the rights conferred upon a purchaser under an advance college tuition savings contract;

(8)“qualified higher education expenses” has the meaning given in 26 U.S.C. 529(e)(3) (Internal Revenue Code);

(9)“university” means the University of Alaska, including a community college affiliated with the university.