Higher Education Savings Plan

  1. Law
  2. South Dakota Codified Laws
  3. Education
  4. Higher Education Savings Plan

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Section
13-63-1

Definitions.

Section
13-63-2

Powers of South Dakota Investment Council.

Section
13-63-3

Financial institutions as depositories and managers--Bidding by financial institutions--Selection criteria.

Section
13-63-4

Contract with financial institution to serve as program manager.

Section
13-63-5

Duties of program manager.

Section
13-63-6

Term of contract between council and financial institution.

Section
13-63-7

Conditions applicable to nonrenewed contracts.

Section
13-63-8

Termination of contract for good cause--Transfer of accounts.

Section
13-63-9

Program operated through accounts--Requirements for opening account.

Section
13-63-10

Contributions to accounts.

Section
13-63-11

Withdrawals from account.

Section
13-63-12

Changing designated beneficiary.

Section
13-63-13

Transferring funds to another account--Conditions.

Section
13-63-14

Limitations on changing designated beneficiary and rolling over funds.

Section
13-63-15

13-63-16. Repealed.

Section
13-63-17

Accounts to be maintained separately.

Section
13-63-18

Contributor, owner, and beneficiary may not direct investments--Council may offer options.

Section
13-63-19

Council to select financial institution in event of transfer of accounts--Exception.

Section
13-63-20

Interest in account not subject to levy, judgment or garnishment--Not deemed asset--Interest not to be used as security--Inclusion as gross asset.

Section
13-63-21

Council to adopt rules to prevent excess contributions.

Section
13-63-22

Account distributions to be reported as required by federal law.

Section
13-63-23

Account statements to be issued at least annually--Contents.

Section
13-63-24

Statements to comply with federal or state tax laws.

Section
13-63-25

Government and non-profit organizations as account owners--Beneficiaries identified after account opened.

Section
13-63-26

Identifying information of account holders and beneficiaries confidential.

Section
13-63-27

Account balance of beneficiary student treated as asset of parent--Exceptions.

Section
13-63-28

Limitations of chapter.

Section
13-63-29

Chapter does not establish guarantees.

Section
13-63-30

Certain disclaimers mandated.

Section
13-63-31

Annual report by council.

Section
13-63-32

Immunity from liability.