(b) Nothing in this subsection prohibits a designated beneficiary from directing the investment of contributions to the network or earnings from those contributions by selecting between investment options offered under the network in accordance with rules adopted by the board.
(2) The network, the board, a board member and the State of Oregon may not insure any account or guarantee any rate of return or any interest rate on any contribution. The network, the board, a board member and the State of Oregon may not be liable for any loss incurred by any person as a result of participating in the network.
(3) The board, in the exercise of its sole discretion and without liability, may remove the network’s funds from any financial institution and reinvest the funds in a similar or different investment alternative at another financial institution pursuant to a contract, agreement or arrangement entered into under ORS 178.315 (4).
(4) This section applies only to accounts established for qualified higher education expenses. [Formerly 348.860; 2017 c.367 §4]