Ohio Code 3334.21 – Termination of variable college savings program
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The variable college savings program may be terminated by statute or upon the determination of the Ohio tuition trust authority that the program is not financially feasible. Upon termination, all amounts held in program accounts shall be returned to account owners, to the extent possible, and any unclaimed assets in the program shall be transferred to the unclaimed funds trust fund and disposed of in accordance with section 169.05 of the Revised Code.
Terms Used In Ohio Code 3334.21
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Statute: A law passed by a legislature.
- Tuition: means the charges imposed to attend an institution of higher education as an undergraduate, graduate, or professional student and all fees required as a condition of enrollment, as determined by the Ohio tuition trust authority. See Ohio Code 3334.01