Vermont Statutes Title 16 Sec. 2876
Terms Used In Vermont Statutes Title 16 Sec. 2876
- Approved postsecondary education institution: means a postsecondary education institution as defined in section 2822 of this title. See
- 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
- Beneficiary: means any individual designated by a participation agreement to benefit from payments for qualified postsecondary education costs. See
- between: as used in this title in respect to a specified age of a student, shall mean the period of time commencing on the birthday of the child when he or she becomes the age first specified and ending on the day next preceding the birthday of the child when he or she becomes the age last specified. See
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: means Vermont Student Assistance Corporation. See
- Fees: shall mean earnings due for official services, aside from salaries or per diem compensation. See
- Internal Revenue Code: means the federal Internal Revenue Code of 1986, as amended, together with the regulations promulgated pursuant to that Code. See
- Investment Plan: means one or more plans created pursuant to this subchapter. See
- Participant: means a person who has entered into a participation agreement pursuant to this subchapter intended for the payment of qualified postsecondary education costs on behalf of a beneficiary. See
- Participation agreement: means an agreement between a participant and the Corporation, pursuant to and conforming with the requirements of this subchapter. See
- Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
- Qualified postsecondary education costs: means the costs of tuition and fees for attendance at an approved postsecondary education institution, and other qualified higher education expenses as provided under 26 U. See
- Student: means any person who:
§ 2876. Definitions
As used in this subchapter, except where the context clearly requires another interpretation:
(1) “Beneficiary” means any individual designated by a participation agreement to benefit from payments for qualified postsecondary education costs.
(2) “Benefits” means the payment of qualified postsecondary education costs on behalf of a beneficiary from a participant‘s investment plan account.
(3) “Corporation” means Vermont Student Assistance Corporation.
(4) “Internal Revenue Code” means the federal Internal Revenue Code of 1986, as amended, together with the regulations promulgated pursuant to that Code.
(5) “Qualified postsecondary education costs” means the costs of tuition and fees for attendance at an approved postsecondary education institution, and other qualified higher education expenses as provided under 26 U.S.C. § 529.
(6) “Approved postsecondary education institution” means a postsecondary education institution as defined in section 2822 of this title.
(7) “Vermont Higher Education Investment Plan” or “Investment Plan” means one or more plans created pursuant to this subchapter.
(8) “Participant” means a person who has entered into a participation agreement pursuant to this subchapter intended for the payment of qualified postsecondary education costs on behalf of a beneficiary.
(9) “Participation agreement” means an agreement between a participant and the Corporation, pursuant to and conforming with the requirements of this subchapter. (Added 1997, No. 79 (Adj. Sess.), § 1, eff. July 1, 1997; amended 2001, No. 58, § 4, eff. June 16, 2001; 2019, No. 51, § 16, eff. Jan. 1, 2019; 2019, No. 154 (Adj. Sess.), § E.605.4, eff. Oct. 2, 2020.)