Section 81.05. Refusal to open an account.

Latest version.

The program manager or the board may refuse to open an account for any of the following reasons:

(1) The applicant is not an eligible account owner.

(2) The applicant has not provided all of the information required in the application.

(3) The maximum contribution level for the proposed designated beneficiary has already been met.

(4) The execution of a participation agreement violates any federal or state law.

(5) The board determines that the number of accounts in the program should be limited.

History: CR 02-009 : cr. Register January 2003 No. 565 , eff. 2-1-03.

                    
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