Section 14.40.817. Definitions.

In AS 14.40.803 - 14.40.817,
        (1) "advance college tuition savings contract" or "contract" means a contract entered into by the board and a purchaser to provide for the qualified higher education expenses of a beneficiary;
        (2) "beneficiary" means a designated beneficiary as defined under 26 U.S.C. 529(e)(1) (Internal Revenue Code);
        (3) "board" means the Board of Regents of the university;
        (4) "eligible educational institution" has the meaning given in 26 U.S.C. 135(c)(3) (Internal Revenue Code);
        (5) "fund" means the Alaska advance college tuition savings fund established under AS 14.40.803;
        (6) "plan" means the formal plan for administration of an advance college tuition savings program adopted by the board under AS 14.40.809(b);
        (7) "purchaser" means the person who is named in the contract and has the rights conferred upon a purchaser under an advance college tuition savings contract;
        (8) "qualified higher education expenses" has the meaning given in 26 U.S.C. 529(e)(3) (Internal Revenue Code);
        (9) "university" means the University of Alaska, including a community college affiliated with the university.

Notes

History

(Sec. 1 ch 90 SLA 1990; am Sec. 8 ch 61 SLA 1991; am Sec. 7 ch 102 SLA 1997; am Sec. 9 - 12 ch 3 SLA 2000)