Maryland Code, EDUCATION 18-19B-01
Terms Used In Maryland Code, EDUCATION 18-19B-01
- 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
- Person: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(b) “Account holder” means the person who established an investment account on behalf of a qualified designated beneficiary.
(c) “Board” means the Maryland 529 Board established under § 18-1904 of this title.
(d) “Broker-Dealer Plan” means the Maryland Broker-Dealer College Investment Plan established under this subtitle.
(e) “Eligible educational institution” has the meaning stated in § 529(e) of the Internal Revenue Code.
(f) “Investment account” means an account established by an account holder under this subtitle on behalf of a qualified designated beneficiary for the purpose of applying distributions toward qualified higher education expenses at eligible educational institutions.
(g) “Qualified designated beneficiary” has the meaning stated in § 529(e) of the Internal Revenue Code.
(h) “Qualified higher education expenses” has the meaning stated in § 529(e) of the Internal Revenue Code.
(i) “Qualified State tuition program” has the meaning stated in § 529 of the Internal Revenue Code.