Nothing in this chapter:

1. (1) Gives any designated beneficiary any rights or legal interest with respect to an account unless the designated beneficiary is the account owner;
2. (2) Guarantees that a designated beneficiary will be admitted to an eligible education institution or be allowed to continue enrollment at or graduate from an eligible education institution after admission;
3. (3) Establishes state residency for an individual merely because the individual is a designated beneficiary; or
4. (4) Guarantees that amounts saved pursuant to the program will be sufficient to cover the qualified higher education expenses of a designated beneficiary.

Source: SL 2001, ch 97 , § 28.