Utah Code 53B-8a-102. Definitions for chapter
Current as of: 2024 | Check for updates
|
Other versions
As used in this chapter:
(1) “Account agreement” means an agreement between an account owner and the Utah Educational Savings Plan entered into under this chapter.
Terms Used In Utah Code 53B-8a-102
- Account agreement: means an agreement between an account owner and the Utah Educational Savings Plan entered into under this chapter. See Utah Code 53B-8a-102
- Account owner: means a person, estate, or trust, if that person, estate, or trust has entered into an account agreement under this chapter to save for the higher education costs on behalf of a beneficiary. See Utah Code 53B-8a-102
- Higher education costs: means qualified higher education expenses as defined in Section 529(e)(3), Internal Revenue Code. See Utah Code 53B-8a-102.5
- Person: means :(24)(a) an individual;(24)(b) an association;(24)(c) an institution;(24)(d) a corporation;(24)(e) a company;(24)(f) a trust;(24)(g) a limited liability company;(24)(h) a partnership;(24)(i) a political subdivision;(24)(j) a government office, department, division, bureau, or other body of government; and(24)(k) any other organization or entity. See Utah Code 68-3-12.5
- Plan: means the Utah Educational Savings Plan created in Section 53B-8a-103. See Utah Code 53B-8a-102
(2) “Account owner” means a person, estate, or trust, if that person, estate, or trust has entered into an account agreement under this chapter to save for the higher education costs on behalf of a beneficiary.(3) “Beneficiary” means the individual designated in an account agreement to benefit from the amount saved for higher education costs.(4) “Plan” means the Utah Educational Savings Plan created in Section 53B-8a-103.