Terms Used In Delaware Code > Title 14 > Chapter 34 > Subchapter XII - DE529 Education Savings Plan Administered by the Plans Management Board

• Account: means an individual account, a trust account or a savings account established in accordance with this subchapter. See Delaware Code Title 14 Sec. 3485
• Account owner: means the individual, individuals, or the trustee of a trust identified at the time the account is opened as having the right to withdraw funds from the account. See Delaware Code Title 14 Sec. 3485
• Ballot: means those portions of cardboard, paper or other material to be placed within the ballot frames of a voting machine or to be used for absentee voting in order to list the names of the offices to be voted for, the name of each candidate and the designation of the party by which the candidate is nominated, a space for the voter to write in the name of any candidate of that voter's choice for any office, and the statement of any question submitted with provision for a "yes" or "no" vote. See Delaware Code Title 15 Sec. 101
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Board: means that body of individuals appointed by the Governor and confirmed by the Senate to serve or who otherwise serve as the State Board of Elections in accordance with Chapter 2 of this title, and are, as such, vested with the responsibility and power to see to the administration of the election laws of this State as more particularly defined in this title. See Delaware Code Title 15 Sec. 101
• Board: means the Plans Management Board pursuant to § 2722 of Title 29. See Delaware Code Title 14 Sec. 3485
• Department: means the State Department of Elections, consisting of the State Board of Elections and such staff as the Board shall appoint under this title, but shall not include the State Election Commissioner. See Delaware Code Title 15 Sec. 101
• Designated beneficiary: means , except as provided in § 3490 of this title, the individual designated at the time the account is opened as having the right to receive a qualified withdrawal for the payment of qualified education expenses or, if such designated beneficiary is replaced in accordance with § 3490 of this title, such replacement. See Delaware Code Title 14 Sec. 3485
• Election officers: means the inspector of election, the 2 judges of election and the clerks of election who are appointed for each election district under § 4702 of this title. See Delaware Code Title 15 Sec. 101
• National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}
• Nonqualified withdrawal: means a withdrawal from an account that is not:

  a. See Delaware Code Title 14 Sec. 3485

• Plan: means the DE529 Education Savings Plan established by this subchapter. See Delaware Code Title 14 Sec. 3485
• political party: means any political organization which elects a state committee and officers of a state committee, by a state convention composed of delegates elected from each representative district in which the party has registered members, and which nominates candidates for electors of President and Vice-President, or nominates candidates for offices to be decided at the general election. See Delaware Code Title 15 Sec. 101
• Qualified education expenses: means tuition and other permitted expenses as set forth in 26 U. See Delaware Code Title 14 Sec. 3485
• Qualified withdrawal: means a withdrawal from an account to pay the qualified education expenses of the designated beneficiary, but only if the withdrawal is made in accordance with the requirements of the Plan. See Delaware Code Title 14 Sec. 3485
• State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
• Trust: means a trust which is revocable or irrevocable and which has at least 1 individual as its current beneficiary. See Delaware Code Title 14 Sec. 3485
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Trustee: A person or institution holding and administering property in trust.
• United States: includes its territories and possessions and the District of Columbia. See Delaware Code Title 1 Sec. 302
• Year: means a calendar year, and is equivalent to the words "year of our Lord. See Delaware Code Title 1 Sec. 302