Sec. 06.65.390. Definitions.

199 words·~1 min read·/ak/title-6/chapter-65/06-65-390

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

In this chapter,

(1)“department” means the Department of Revenue;

(2)“designated beneficiary” means the eligible individual for whom a program account for qualified expenses is established under this chapter;

(3)“eligible individual” means an individual who is eligible under AS 06.65.100 ;

(4)“federal authorizing law” means 26 U.S.C. 529A (Internal Revenue Code) and the regulations issued under that statute;

(5)“financial contractor” means a person that enters into a contract with the department under this chapter to provide program accounts;

(6)“member of the family” has the meaning given in the federal authorizing statute;

(7)“program” means the Alaska savings program for eligible individuals established under AS 06.65.010 ;

(8)“program account” means a savings account used by the program to meet the qualified disability expenses of the designated beneficiary of the account;

(9)“program account owner” means the designated beneficiary of a program account;

(10)“qualified expense” means a qualified disability expense as defined by the federal authorizing law;

(11)“representative” means a person who is a representative of an eligible individual under AS 06.65.110 (a);

(12)“savings account” means a financial account;

(13)“secretary” means the United States Secretary of the Treasury.