Section 81.12. Refund of qualified distribution payment.

Latest version.

An eligible educational institution that owes a full or partial refund of a qualified distribution due to an overpayment of educational expenses or for any other reason shall pay the refund directly to the program manager for credit to the applicable designated beneficiary's account. A refund may not be paid directly to the designated beneficiary or account owner.

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

                    
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