PocketLaw | Michigan Compiled Laws | 161 of 2000 - Michigan Education

161 of 2000 - Michigan Education Savings Program Act (390.1471 - 390.1486)

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Section
390.1471

Short Title.

Section
390.1472

Definitions.

Section
390.1473

Michigan Education Savings Program; Establishment; Soliciting Proposals; Duties and Powers Vested in Treasurer; Administration of Program; Funds Trustee; Personnel and Services; Selection of Program Manager; Contract.

Section
390.1474

Management Contract; Supervision by Treasurer.

Section
390.1475

Management Contract; Term; Termination.

Section
390.1476

Contracts.

Section
390.1477

Education Savings Accounts; Establishment; Purpose; Agreement; Form of Contribution; Withdrawal; Distributions; Penalty; Separate Accounting for Each Beneficiary.

Section
390.1478

Account Owner or Beneficiary; Changes; Transfer.

Section
390.1479

Account Owner or Beneficiary; Direction of Contributions or Earnings; Selection of Investment Strategy; Contributions by Board Members or Employees; Use of Interest; Restriction.

Section
390.1480

Maximum Account Balance Limit; Limitation; Rejection of Contribution to Designated Beneficiary Account; Total Balance of All Accounts.

Section
390.1481

Account Distributions; Report to Internal Revenue Service and Account Owner; Statements.

Section
390.1482

Disclosure of Information.

Section
390.1483

Construction or Interpretation of Act and Agreement.

Section
390.1484

Obligation Upon State, Agency, or Instrumentality of State.

Section
390.1485

Annual Report.

Section
390.1486

Contributions and Interest Earned as Tax Exempt; Withdrawals as Taxable.