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S.D. Codified Laws ch. 13-63 – Higher Education Savings Plan | Midpage
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South Dakota Codified Laws
Title 13
Chapter 13-63
S.D. Codified Laws ch. 13-63
Higher Education Savings Plan
13-63-1
Definitions.
13-63-2
Powers of South Dakota Investment Council.
13-63-3
Depositories and managers--Bidding by financial institutions--Selection criteria.
13-63-4
Contract with financial institution to serve as program manager.
13-63-5
Duties of program manager.
13-63-6
Term of contract between council and financial institution.
13-63-7
Conditions applicable to nonrenewed contracts.
13-63-8
Termination of contract for good cause--Transfer of accounts.
13-63-9
Program operated through accounts--Requirements to open.
13-63-10
Contributions to accounts.
13-63-11
Withdrawals from account.
13-63-12
Changing designated beneficiary.
13-63-13
Transferring funds to another account--Conditions.
13-63-14
Limitations on changing designated beneficiary and rolling over funds.
13-63-15
13-63-15, 13-63-16. Repealed by SL 2002, ch 94, §§ 8, 9
13-63-17
Accounts to be maintained separately.
13-63-18
No direction of investments--Limited options permitted--Financial institution obligation.
13-63-19
Council to select financial institution in event of transfer of accounts--Exception.
13-63-20
Interest in account not subject to levy, judgment or garnishment--Not deemed asset--Interest not to be used as security--Inclusion as gross asset.
13-63-21
Council to adopt rules to prevent excess contributions.
13-63-21.1
Excess contributions--Processing.
13-63-22
Account distributions to be reported as required by federal law.
13-63-23
Account statements--Contents.
13-63-24
Statements to comply with federal or state tax laws.
13-63-25
Government and non-profit organizations as account owners--Beneficiaries identified after account opened.
13-63-26
Identifying information of account holders and beneficiaries confidential.
13-63-27
Account balance of beneficiary student treated as asset of parent--Exceptions.
13-63-28
Limitations of chapter.
13-63-29
Chapter does not establish guarantees.
13-63-30
Mandated disclaimers.
13-63-31
Annual report by council.
13-63-32
Immunity from liability.