reglab/statecodes huggingface dataset:
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA HIGHER EDUCATION PREPAID TUITION PROGRAM › Amendment of Contracts › Section 353B.300 - Conditions for change in contractual plan

Current through June 11, 2024
The Board will amend a contract to change the contractual
				  plan if:
1. The purchaser requests the
				change, submits the required fee and pays any additional sum the Board
				determines to be necessary, as a result of the change, to ensure the actuarial
				soundness of the Trust Fund;
2. No
				benefits have been paid pursuant to the contract;
3. The purchaser is not in default pursuant
				to NAC 353B.370; and
4. The
				contract has not been terminated.
Added to NAC by Bd. of
				  Trustees for Higher Educ. Tuition Trust Fund by R009-99, eff.
				  11-3-99
NRS
					 353B.090
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA HIGHER EDUCATION PREPAID TUITION PROGRAM › Amendment of Contracts › Section 353B.310 - Conditions for change in designation of qualified beneficiary

Current through June 11, 2024
1. The Board will amend a contract to change
				the designation of the qualified beneficiary to a person within the immediate
				family of the existing qualified beneficiary if:
(a) The purchaser requests the change and
				submits to the Board:
(1) The required
				fee;
(2) The name and date of birth
				of the proposed qualified beneficiary;
(3) The expected date of matriculation of the
				proposed qualified beneficiary; and
(4) Any other relevant information requested
				by the Board;
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA HIGHER EDUCATION PREPAID TUITION PROGRAM › Remittance of Payments › Section 353B.350 - Options for method of payment by purchaser

Current through June 11, 2024
A contract may provide for payment by the purchaser:
1. By:
(a)
				Remittance in a lump sum; or
(b)
				Remittances on a monthly basis:
(1) For 60
				months;
(2) For 120 months;
				or
(3) From the time of enrollment
				in the Program until the qualified beneficiary graduates from high school;
				and
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA HIGHER EDUCATION PREPAID TUITION PROGRAM › Remittance of Payments › Section 353B.360 - Payment of remaining balance in lump sum

Current through June 11, 2024
Upon the request of a purchaser and receipt of the required
				  fee, the Board will allow the purchaser to pay in a lump sum the remaining
				  balance, if any, of the total amount due pursuant to a contract that provides
				  for the remittance of payments on a monthly basis, unless:
1. The purchaser is in default pursuant to
				NAC 353B.370; or
2. The contract
				has been terminated.
Added to NAC by Bd. of
				  Trustees for Higher Educ. Tuition Trust Fund by R009-99, eff.
				  11-3-99
NRS
					 353B.090
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA HIGHER EDUCATION PREPAID TUITION PROGRAM › Remittance of Payments › Section 353B.365 - Requirements for matching contribution by employer on behalf of qualified beneficiary

Current through June 11, 2024
1. An employer may
				make a matching contribution to the Trust Fund on behalf of a qualified
				beneficiary on whose behalf a contract is drawn pursuant to
				NRS
				353B.100.
2. Before an employer makes a matching
				contribution to a contract pursuant to subsection 1, the employee must provide
				to the employer proof of payment on the contract.
3. An employer that makes a matching
				contribution pursuant to this section must submit to the Board the:
(a) Name of the employee on whose behalf the
				matching contribution is made;
(b)
				The number of the contract; and
(c)
				Proof that the employer has made a matching contribution on behalf of the
				employee.
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA HIGHER EDUCATION PREPAID TUITION PROGRAM › Remittance of Payments › Section 353B.370 - Remittance of payment pursuant to contract; consequences for failure to remit

Current through June 11, 2024
1. A purchaser must remit payments pursuant
				to a contract on the dates and in the amounts set forth in the schedule for
				participation and payment provided to the purchaser by the Board.
2. If a purchaser fails to remit:
(a) A payment required pursuant to a contract
				within 30 days after the date the payment is due, the purchaser shall be deemed
				to be in default.
(b) The first
				payment required pursuant to a contract within 90 days after the date the
				payment is due, the Board may terminate the contract.
(c) All past due payments required pursuant
				to a contract within 180 days after the date the purchaser is deemed to be in
				default pursuant to paragraph (a), the Board may terminate the contract and
				provide to the purchaser a refund according to the terms of the master
				agreement.
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA HIGHER EDUCATION PREPAID TUITION PROGRAM › Termination of Contracts; Refunds › Section 353B.400 - Failure to provide information requested by Board

Current through June 11, 2024
If a purchaser fails to provide any information relating to
				  a contract within a reasonable period after receiving a request from the Board
				  for the provision of that information, the Board may terminate the contract and
				  provide to the purchaser a refund according to the terms of the master
				  agreement.
Added to NAC by Bd. of
				  Trustees for Higher Educ. Tuition Trust Fund by R009-99, eff. 11-3-99; A by Bd.
				  of Trustees of College Savings Plans of Nev. by R055-09,
				  10-27-2009
NRS
					 353B.090
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA HIGHER EDUCATION PREPAID TUITION PROGRAM › Termination of Contracts; Refunds › Section 353B.410 - Fraudulent misrepresentation or omission of information

Current through June 11, 2024
If the Board determines that a purchaser has fraudulently
				  misrepresented or omitted any information relating to a contract requested by
				  the Board or otherwise required pursuant to NAC 353B.010 to 353B.510,
				  inclusive, the Board will terminate the contract and provide to the purchaser a
				  refund according to the terms of the master agreement.
Added to NAC by Bd. of
				  Trustees for Higher Educ. Tuition Trust Fund by R009-99, eff. 11-3-99; A by Bd.
				  of Trustees of College Savings Plans of Nev. by R055-09,
				  10-27-2009
NRS
					 353B.090
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA HIGHER EDUCATION PREPAID TUITION PROGRAM › Termination of Contracts; Refunds › Section 353B.420 - Death of purchaser

Current through June 11, 2024
Upon the receipt of a written request signed by a person
				  designated pursuant to NAC 353B.190 or, in the absence of such a designation,
				  by the representative of the estate of the purchaser or the representative of a
				  qualified beneficiary, and such documentation as the Board deems adequate to
				  prove that a purchaser has died, the Board will:
1. Terminate the contract and provide to the
				requester a refund according to the terms of the master agreement;
2. If the requester submits the required fee,
				amend the contract to change the identity of the purchaser; or
3. If the purchaser has paid the total amount
				due on the contract and no legal successor or representative of the estate is
				identified, automatically transfer the rights and responsibilities of the
				purchaser to the qualified beneficiary if the qualified beneficiary is not a
				minor. If the qualified beneficiary is a minor and the Board receives
				sufficient documentation that a legal guardian may act on behalf of the minor,
				the Board will transfer the rights and responsibilities of the purchaser to the
				legal guardian. Upon transfer of the rights and responsibilities to the
				qualified beneficiary or the legal guardian, as applicable, the Board will act
				at the direction of the qualified beneficiary or the legal guardian with regard
				to the contract.
Added to NAC by Bd. of
				  Trustees for Higher Educ. Tuition Trust Fund by R009-99, eff. 11-3-99; A by Bd.
				  of Trustees of College Savings Plans of Nev. by R055-09,
				  10-27-2009
NRS
					 353B.090
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA HIGHER EDUCATION PREPAID TUITION PROGRAM › Termination of Contracts; Refunds › Section 353B.430 - Death or disability of qualified beneficiary

Current through June 11, 2024
Upon the receipt of a written request signed by a purchaser
				  and such documentation as the Board deems adequate to prove that the qualified
				  beneficiary has died or become totally disabled, the Board will:
1. Terminate the contract and provide to the
				purchaser a refund according to the terms of the master agreement; or
2. Amend the contract to change the
				designation of the qualified beneficiary, subject to the provisions of NAC
				353B.310.
Added to NAC by Bd. of
				  Trustees for Higher Educ. Tuition Trust Fund by R009-99, eff. 11-3-99; A by Bd.
				  of Trustees of College Savings Plans of Nev. by R150-03, 8-25-2004; R055-09,
				  10-27-2009
NRS
					 353B.090
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA HIGHER EDUCATION PREPAID TUITION PROGRAM › Termination of Contracts; Refunds › Section 353B.440 - Award of scholarship to qualified beneficiary that duplicates benefits to be provided under contract

Current through June 11, 2024
1. Upon the receipt
				of a written request signed by a purchaser and such documentation as the Board
				deems adequate to prove that the qualified beneficiary has been awarded a
				scholarship to attend an eligible educational institution which duplicates all
				the benefits to be provided pursuant to the contract, the Board will:
(a) Amend the contract to change the identity
				of the qualified beneficiary and waive the required fee for the change;
				or
(b) Terminate the contract and
				provide to the purchaser a refund according to the terms of the master
				agreement.
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA HIGHER EDUCATION PREPAID TUITION PROGRAM › Termination of Contracts; Refunds › Section 353B.450 - Request by purchaser to terminate contract

Current through June 11, 2024
Upon the receipt of a written request signed by a purchaser
				  to terminate the contract for any reason other than as provided in NAC 353B.430
				  and 353B.440, the Board will terminate the contract and provide to the
				  purchaser a refund according to the terms of the master
				  agreement.
Added to NAC by Bd. of
				  Trustees for Higher Educ. Tuition Trust Fund by R009-99, eff. 11-3-99; A by Bd.
				  of Trustees of College Savings Plans of Nev. by R150-03, 8-25-2004; R055-09,
				  10-27-2009
NRS
					 353B.090
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA HIGHER EDUCATION PREPAID TUITION PROGRAM › Fees and Penalties › Section 353B.500 - Fees

Current through June 11, 2024
A contract may require the purchaser to pay:
1. For a change in:
(a) The amount, time or method of
				payment;
(b) The contractual
				plan;
(c) The identity of the
				purchaser; or
(d) The designation
				of the qualified beneficiary, a fee of $20.
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA HIGHER EDUCATION PREPAID TUITION PROGRAM › Fees and Penalties › Section 353B.510 - Penalties for insufficient funds, delinquent payment or termination of contract

Current through June 11, 2024
1. A contract must
				require the purchaser to pay a penalty of $25 if a payment is returned for
				insufficient funds in accordance with NRS
				NRS
				353C.115 and the regulations adopted pursuant
				thereto.
2. A contract may require
				the purchaser to pay:
(a) If a monthly
				remittance is not received within 15 days after the date due, a penalty of
				$15.
(b) If a remittance by a lump
				sum is not received within:
(1) Fifteen days
				after the date due, a penalty of $15; and
(2) Forty-five days after the date due, a
				penalty of 1 percent of the total amount due, including the amount of all
				outstanding fees and penalties imposed pursuant to the contract, for each
				period of 30 days or portion thereof that passes after the period described in
				subparagraph (1) until:
(I) The total amount
				due is paid; or
(II) The contract
				is terminated, whichever occurs earlier.
(c) In addition to any other penalties
				imposed, if a monthly remittance or a remittance by lump sum is not received
				within 90 days after the due date, a penalty which is calculated by multiplying
				the total amount of payments due by:
(1) The
				estimated annual rate of return established by the Board pursuant to NAC
				353B.200 for the year in which the total amount is due; or
(2) Eight percent, whichever is
				less.
(d) If a contract
				is terminated pursuant to NAC 353B.370, 353B.400, 353B.410 or 353B.450, a
				penalty of $100.
(e) If a contract
				is terminated pursuant to NAC 353B.440, a penalty, if required, to the Internal
				Revenue Service pursuant to
				26 U.S.C. §
											529(c)(6) or any other
				applicable section of the Internal Revenue Code.
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › General Provisions › Section 353B.550 - Definitions

Current through June 11, 2024
As used in NAC 353B.550 to
				  353B.725,
				  inclusive, unless the context otherwise requires, the words and terms defined
				  in NAC 353B.555 to
				  353B.590, inclusive, have the
				  meanings ascribed to them in those sections.
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002; A by R054-09, 10-27-2009; A by
				  R032-22A,
				  eff. 9/8/2022
NRS
					 353B.335
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › General Provisions › Section 353B.555 - "Account owner" defined

Current through June 11, 2024
"Account owner" means a person who:
1. Is legally able to contract under the laws
				of this State;
2. Meets all federal
				and state requirements governing the Program and a plan; and
3. Establishes an account under a
				plan.
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002; A by R054-09,
				  10-27-2009
NRS 353B.310
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › General Provisions › Section 353B.560 - "Business day" defined

Current through June 11, 2024
"Business day" means any weekday on which the New York Stock
				  Exchange is open.
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002; A by R054-09,
				  10-27-2009
NRS 353B.310
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › General Provisions › Section 353B.565 - "Designated beneficiary" defined

Current through June 11, 2024
"Designated beneficiary" has the meaning ascribed to it in
				  26 U.S.C. §
										529.
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002
NRS 353B.310
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › General Provisions › Section 353B.570 - "Member of the family" defined

Current through June 11, 2024
"Member of the family" has the meaning ascribed to it in
				  26 U.S.C. §
										529.
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002
NRS 353B.310
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › General Provisions › Section 353B.575 - "Participation agreement" defined

Current through June 11, 2024
"Participation agreement" means a participant agreement and
				  an account application executed by an account owner which:
1. Sets forth the terms and conditions
				governing an account; and
2. Is in
				the form approved by the State Treasurer.
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002; A by R041-03,
				  10-29-2003
NRS 353B.310
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › General Provisions › Section 353B.580 - "Person" defined

Current through June 11, 2024
"Person" has the meaning ascribed to it in
				  26
				  U.S.C. §
										7701(a).
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002
NRS 353B.310
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › General Provisions › Section 353B.582 - "Plan" defined

Current through June 11, 2024
"Plan" means an investment plan that is approved by the
				  Board for inclusion in the Program which is promoted by a private entity and is
				  offered for sale under the management of the Program Manager or through a
				  contract between the Program Manager and a Plan Investment Manager.
Added by NAC by St.
				  Treasurer by R054-09, eff. 10-27-2009
NRS 353B.310
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › General Provisions › Section 353B.583 - "Plan Investment Manager" defined

Current through June 11, 2024
"Plan Investment Manager" means a private entity that has
				  contracted with the Program Manager and is approved by the Board to offer
				  plans, to invest accounts opened under a plan and to manage plans within the
				  Program.
Added to NAC by St.
				  Treasurer by R054-09, eff. 10-27-2009
NRS 353B.310
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › General Provisions › Section 353B.585 - "Program" defined

Current through June 11, 2024
"Program" means the Nevada College Savings Program, which is
				  a qualified tuition program pursuant to
				  26 U.S.C. §
										529 that may be marketed as "Nevada's College
				  Savings Plan" or under any other name.
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002; A by R041-03, 10-29-2003; R054-09,
				  10-27-2009
NRS 353B.310
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › General Provisions › Section 353B.590 - "Program Manager" defined

Current through June 11, 2024
"Program Manager" means the private entity that has
				  contracted with the Board to serve as the administrator, marketing agent and
				  investment manager of the Program.
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002
NRS 353B.310
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › General Provisions › Section 353B.595 - "Qualified higher education expenses" defined (Repealed)

Current through June 11, 2024
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002; R by
				  R032-22A,
				  eff. 9/8/2022
NRS
					 353B.335
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › Administration of Accounts › Section 353B.600 - Eligibility to be account owner or designated beneficiary

Current through June 11, 2024
1.
				There are no restrictions on the age of a designated beneficiary or any
				required relationship between an account owner and the designated beneficiary
				of the account.
2. There may be
				only one account owner and one designated beneficiary for an account at any
				time.
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002; A by R041-03,
				  10-29-2003
NRS 353B.310
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › Administration of Accounts › Section 353B.605 - Designation of successor account owner; change of ownership of account

Current through June 11, 2024
1. An account owner may designate a successor
				account owner who becomes the new account owner automatically upon the death of
				the designating account owner. An account owner, in the account application or
				at any other time, may make such a designation by submitting to the Plan
				Investment Manager a written designation of a successor account owner
				containing the information required by the Plan Investment Manager. A
				designation of a successor account owner is not effective until received by the
				Plan Investment Manager and recorded in the records of the Plan Investment
				Manager.
2. If a change in the
				ownership of an account is required by a court order directing the change of
				ownership, or by an affidavit or declaration that is recognized under
				applicable law as requiring the transfer of ownership upon death without a
				court order, the change of ownership of the account, except as otherwise
				required by law, is not effective until the Plan Investment Manager receives
				the court order, affidavit or declaration requiring the change and the change
				of ownership is recorded in the records of the Plan Investment
				Manager.
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002; A by R041-03, 10-29-2003; R054-09,
				  10-27-2009
NRS 353B.310
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › Administration of Accounts › Section 353B.610 - Change of designated beneficiary

Current through June 11, 2024
An account owner may change the designated beneficiary of
				  the account if the new designated beneficiary is a member of the family of the
				  current designated beneficiary. A change of designated beneficiary is not
				  effective until the Plan Investment Manager receives a written request
				  containing the information required by the Plan Investment Manager and the
				  change is recorded in the records of the Plan Investment Manager.
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002; A by R054-09,
				  10-27-2009
NRS 353B.310
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › Administration of Accounts › Section 353B.615 - Opening of account; selection of investment option; reassignment of accounts under age-based investment option

Current through June 11, 2024
1. To open an
				account, an applicant must submit to the Plan Investment Manager a completed
				application and:
(a) An initial contribution;
				or
(b) A designation of an
				alternative method of funding approved by the Plan Investment
				Manager.
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › Administration of Accounts › Section 353B.620 - Conditions under which Plan Investment Manager may refuse to open account

Current through June 11, 2024
The Plan Investment Manager may, without limitation, refuse
				  to open an account if:
1. The
				applicant is not eligible to be an account owner.
2. The applicant has not provided all the
				information required by the participation agreement.
3. The total account balance of all accounts
				for the same designated beneficiary in the Program and the Nevada Higher
				Education Prepaid Tuition Program is greater than or equal to the maximum
				aggregate balance for the accounts of a designated beneficiary established by
				the Board pursuant to NAC 353B.655. If more than one applicant has submitted an
				application and an initial contribution or selection of contribution method to
				open an account for the same designated beneficiary, and all contributions,
				together with the total account balance of all existing accounts for that
				designated beneficiary, would exceed the maximum aggregate balance for the
				accounts of a designated beneficiary established by the Board pursuant to NAC
				353B.655, the Program Manager will allow a Plan Investment Manager to accept
				applications to open accounts for the designated beneficiary in the order of
				their receipt until the maximum limit has been reached.
4. The execution of a participation agreement
				between the Plan Investment Manager and the applicant violates any federal or
				state law.
5. The Board determines
				that, for any other reason, it would be advisable to limit the number of
				accounts in the particular plan managed by that Plan Investment
				Manager.
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002; A by R054-09,
				  10-27-2009
NRS 353B.310
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › Administration of Accounts › Section 353B.625 - Participation agreement: Execution

Current through June 11, 2024
An account owner must execute a participation agreement for
				  each account by completing and signing an account application.
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002; A by R041-03,
				  10-29-2003
NRS 353B.310
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › Administration of Accounts › Section 353B.630 - Participation agreement: Required provisions

Current through June 11, 2024
Provisions substantially similar to the following will be
				  included in each participation agreement:
1. Any controversy or claim arising out of or
				relating to this participation agreement, or the breach, termination or
				validity thereof, must be settled by arbitration administered by the American
				Arbitration Association in accordance with its rules for commercial
				arbitration, and judgment on the award rendered in the arbitration may be
				entered in any court of competent jurisdiction.
2. By signing this participation agreement,
				the parties agree as follows:
(a) All parties
				to this agreement are giving up the right to sue each other in court, including
				the right to a trial by jury, except as provided by the rules of the American
				Arbitration Association.
(b)
				Arbitration awards are generally final and binding, and the ability of a party
				to have a court reverse or modify an arbitration award is very
				limited.
(c) The ability of the
				parties to obtain documents, witness statements and other discovery is
				generally more limited in arbitration than in court proceedings.
(d) The arbitrators do not have to explain
				the reasons for their award.
(e)
				The rules of the American Arbitration Association may impose time limits for
				bringing a claim in arbitration.
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › Administration of Accounts › Section 353B.635 - Maintenance of separate records and accounting for each account; annual reports to account owners

Current through June 11, 2024
Separate records and accounting will be maintained for each
				  account established under a plan. Reports will be issued to each account owner
				  at least annually.
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002; A by R054-09,
				  10-27-2009
NRS 353B.310
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › Administration of Accounts › Section 353B.640 - Prohibition on use of interest as security for loan

Current through June 11, 2024
No interest in an account may be used as security for a
				  loan.
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002
NRS 353B.310
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › Contributions to Accounts › Section 353B.645 - Authority to make contributions; minimum amounts; refusal of certain contributions

Current through June 11, 2024
1. Except as
				otherwise provided in this section, any person may make a contribution to an
				existing account.
2. An employer
				may make a contribution to an existing account that matches a contribution made
				to the account by an employee of the employer.
3. The Board will establish the minimum
				amounts for initial contributions and additional contributions to an account
				for each plan and will, from time to time, revise those amounts as it
				determines necessary.
4. The Board
				will refuse contributions that it determines constitute an abuse of the
				Program.
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002; A by R054-09, 10-27-2009; A by
				  R148-16A,
				  eff. 12/21/2016
NRS
				  353B.310
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › Contributions to Accounts › Section 353B.650 - Form of contributions

Current through June 11, 2024
1. Contributions
				may be made in cash only.
2. As
				used in this section, "cash" includes checks, electronic funds transfers,
				whether through payroll deduction, an automatic contribution plan or otherwise,
				and such other methods of payment as determined by the Program Manager and as
				permitted under applicable law. The term does not include securities, property,
				or charges on debit or credit cards.
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002; A by R041-03,
				  10-29-2003
NRS 353B.310
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › Contributions to Accounts › Section 353B.655 - Limitation on contributions; maximum aggregate balance for designated beneficiary; return of excess contributions

Current through June 11, 2024
1. A contribution
				to an account established for a designated beneficiary will not be accepted to
				the extent the contribution would cause the total account balance of all
				accounts for the designated beneficiary to exceed the amount necessary to
				provide for the qualified higher education expenses of the designated
				beneficiary.
2. The Board will
				establish the maximum aggregate balance for the accounts of a designated
				beneficiary and will, from time to time, revise the maximum aggregate balance
				as it determines necessary.
3. If
				any contribution would cause the total account balance of all accounts for a
				designated beneficiary to exceed the maximum aggregate balance for the accounts
				of a designated beneficiary established by the Board, the excess money will be
				rejected and returned to the contributors in order of receipt. The balance in
				all accounts for that designated beneficiary under the Nevada Higher Education
				Prepaid Tuition Program will be included in calculating whether the maximum
				aggregate balance has been exceeded.
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002; A by R041-03,
				  10-29-2003
NRS 353B.310
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › Contributions to Accounts › Section 353B.660 - Rollover distributions from qualified tuition program of another state

Current through June 11, 2024
1. Except as otherwise provided in subsection
				2, if a qualified tuition program of another state allows rollover
				distributions, an account owner may deposit all or part of the money from an
				account in such a program to an account in the Nevada College Savings Program
				for the same designated beneficiary or for a different designated beneficiary
				who is a member of the family of the designated beneficiary of the account from
				which the money is transferred.
2.
				A rollover distribution pursuant to subsection 1 for the same designated
				beneficiary will be permitted only once in any 12-month period or as otherwise
				permitted by
				26 U.S.C. §
										529 and any regulations, rulings,
				announcements or other guidance issued pursuant thereto.
3. An account owner who wishes to deposit a
				rollover distribution pursuant to this section must:
(a) Submit to the Plan Investment Manager
				either:
(1) A rollover distribution form
				executed by the account owner that authorizes the distribution of money from an
				account in the qualified tuition program of another state; or
(2) If the rollover distribution will not be
				deposited directly into an account in a plan from an account in the qualified
				tuition program of another state, documentation satisfactory to the Plan
				Investment Manager that the rollover distribution will be deposited in an
				account in a plan within 60 days after distribution from an account in the
				qualified tuition program of another state.
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › Distributions From and Termination of Accounts › Section 353B.665 - Distributions: Procedure; classification; restriction

Current through June 11, 2024
1. An
				account owner may request a distribution of money from the account by
				submitting to the Plan Investment Manager not less than 3 business days before
				the date of the requested distribution a completed distribution request form
				and such other information as required by the Board or a Plan Investment
				Manager. The Plan Investment Manager will begin processing properly completed
				distribution request forms upon receipt. A designated beneficiary may not
				withdraw money from an account.
2.
				A distribution may only be arranged by the account owner and only in accordance
				with NAC 353B.665 to 353B.695, inclusive.
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002; A by R054-09, 10-27-2009; A by
				  R032-22A,
				  eff. 9/8/2022
NRS
					 353B.335
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › Distributions From and Termination of Accounts › Section 353B.670 - Distributions: Required notification (Repealed)

Current through June 11, 2024
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002; A by R041-03, 10-29-2003; R054-09,
				  10-27-2009; R by
				  R032-22A,
				  eff. 9/8/2022
NRS
					 353B.335
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › Distributions From and Termination of Accounts › Section 353B.675 - Qualified withdrawals (Repealed)

Current through June 11, 2024
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002; A by R054-09, 10-27-2009; R by
				  R032-22A,
				  eff. 9/8/2022
NRS
					 353B.335
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › Distributions From and Termination of Accounts › Section 353B.680 - Refund of all or part of qualified distribution

Current through June 11, 2024
A refund received from an institution of higher education of
				  all or part of a distribution that is used to pay for qualified higher
				  education expenses of a designated beneficiary must be remitted to the Plan
				  Investment Manager for credit to the appropriate accounts for that designated
				  beneficiary within 60 days after the date on which the refund is received by
				  the Plan Investment Manager. A credit to an account made pursuant to this
				  section must not exceed the amount of the refund received from an institution
				  of higher education.
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002; A by R054-09, 10-27-2009; A by
				  R032-22A,
				  eff. 9/8/2022
NRS
					 353B.335
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › Distributions From and Termination of Accounts › Section 353B.690 - Rollover distributions to account in qualified tuition program of another state or to another account in Program; return of excess money

Current through June 11, 2024
1. Except as otherwise provided in subsection
				2, if a qualified tuition program of another state or a qualified ABLE program
				of another state allows rollover contributions, an account owner may authorize
				a direct rollover distribution from an account in the Program to an account in
				the qualified tuition program of the other state or a qualified ABLE program of
				another state for the same designated beneficiary or for a different designated
				beneficiary who is a member of the family of the designated beneficiary of the
				account in the Program out of which the rollover distribution is being
				made.
2. A rollover distribution
				pursuant to subsection 1 for the same designated beneficiary will be permitted
				only once in any 12-month period or as otherwise permitted by
				26 U.S.C. §
										529 and any regulations, rulings,
				announcements or other guidance issued pursuant thereto.
3. An account owner may authorize a direct
				rollover distribution from an account in the Program to another account in the
				Program so long as the designated beneficiary of the other account is a member
				of the family of the designated beneficiary of the account out of which the
				rollover distribution is being made. If the rollover distribution that is
				deposited in an account causes the total account balance of all accounts for a
				designated beneficiary to exceed the maximum aggregate balance for the accounts
				of a designated beneficiary established by the Board pursuant to NAC
				353B.655, the excess money will
				be rejected and returned.
4. When
				authorizing a rollover distribution, the account owner must complete the forms
				and make such disclosures of financial information as required by the Plan
				Investment Manager and the Board.
5. As used in this section, "qualified ABLE
				program" has the meaning ascribed to it in
				NRS
				427A.885.
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002; A by R041-03, 10-29-2003; R054-09,
				  10-27-2009; A by
				  R032-22A,
				  eff. 9/8/2022
NRS
					 353B.335
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › Distributions From and Termination of Accounts › Section 353B.695 - Termination: Conditions; notice; nonqualified distribution; qualified distribution

Current through June 11, 2024
1. An account may
				be terminated if the account has a balance of less than $1,000 and no
				contributions or withdrawals have been made within the preceding 2 calendar
				years. Before the termination of an account, the account owner will be given
				such notice as the Board determines adequate and will be given an opportunity
				to prevent the termination of the account by making an additional contribution
				or a withdrawal within the period specified by the Plan Investment Manager.
				Upon the involuntary termination of an account, the account balance will be
				paid to the account owner as a distribution.
2. An account owner may request a
				distribution of the remaining balance of an account upon termination. Such a
				request will be honored following receipt by the Plan Investment Manager of all
				information requested by the Plan Investment Manager.
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002; A by R054-09, 10-27-2009; A by
				  R032-22A,
				  eff. 9/8/2022
NRS
					 353B.335
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › Fees › Section 353B.700 - Fees to support continued operation of Program

Current through June 11, 2024
The Board may charge fees based on the total assets and
				  accounts of the Program to support the continued operation of the Program.
				  These fees will accrue daily and must be remitted by the Program Manager and
				  each Plan Investment Manager as directed by the Board.
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002; A by R054-09,
				  10-27-2009
NRS 353B.310
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › Fees › Section 353B.705 - Other fees

Current through June 11, 2024
The Program Manager and each Plan Investment Manager may
				  charge such fees as are agreed to by the Program Manager and the
				  Board.
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002; A by R054-09,
				  10-27-2009
NRS 353B.310
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › Miscellaneous Provisions › Section 353B.710 - Accounting and expenditure if money provided by private entities for direct expenses and marketing

Current through June 11, 2024
If the State Treasurer, pursuant to
				  NRS
				  353B.360, accepts on behalf of the Nevada
				  College Savings Trust Fund money provided by private entities for direct
				  expenses or marketing, the State Treasurer will account for the money
				  separately in the State Treasury. The State Treasurer will expend the money
				  from time to time for direct expenses or marketing activities related to the
				  Program, including expenses of educational programs in this State that
				  encourage saving for college as part of an overall approach to financial
				  planning.
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002
NRS 353B.310,
					 353B.360
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › Miscellaneous Provisions › Section 353B.715 - Review and modification of investment policies by Board

Current through June 11, 2024
The Board will from time to time review the investment
				  policies for the Program and modify those policies if it determines
				  necessary.
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002
NRS 353B.310,
					 353B.370
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › Miscellaneous Provisions › Section 353B.720 - Prohibition on contributor or designated beneficiary to direct investments of Program; exception

Current through June 11, 2024
Except as permitted by
				  26 U.S.C. §
										529 or any regulations, rulings,
				  announcements or other guidance issued pursuant thereto, no contributor to or
				  designated beneficiary of the Program may directly or indirectly direct the
				  investment of any contributions to the Program or any earnings thereon.
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002
NRS 353B.310
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › NEVADA COLLEGE SAVINGS PROGRAM › Miscellaneous Provisions › Section 353B.725 - Effect of joint decisions and interpretations by Board and Program Manager; claims and appeals by account owners; determination of Board on appeal

Current through June 11, 2024
All joint decisions and interpretations by the Board and the
				  Program Manager in connection with the operation of the Program are final and
				  binding upon the account owner and the designated beneficiary and all other
				  persons affected thereby. Any claim by an account owner against the State of
				  Nevada, the Board, the Program or any of their respective affiliates, officers,
				  employees or agents pursuant to the participation agreement or the Program must
				  be made solely against the assets of the Program. An account owner who has had
				  a substantial interest affected by a decision of the Board may appeal to the
				  Board in writing. The Board will review the documentation and other submissions
				  and issue a written determination within 60 days after receiving the appeal.
				  The determination of the Board on an appeal is final.
Added to NAC by St.
				  Treasurer by R185-01, eff. 4-5-2002
NRS 353B.310
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › EDUCATION SAVINGS ACCOUNTS (REPEALED) › Section 353B.750 - Short title (Repealed)

Current through June 11, 2024
(Added to NAC by St.
				Treasurer by R061-15, eff. 12-30-2015) - (Substituted in revision for NAC
				385.5505); R by
				R032-22A,
				eff. 9/8/2022
NRS
				  353B.335
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › EDUCATION SAVINGS ACCOUNTS (REPEALED) › Section 353B.755 - Purposes (Repealed)

Current through June 11, 2024
(Added to NAC by St.
				Treasurer by R061-15, eff. 12-30-2015) - (Substituted in revision for NAC
				385.5513); R by
				R032-22A,
				eff. 9/8/2022
NRS
				  353B.335
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › EDUCATION SAVINGS ACCOUNTS (REPEALED) › Section 353B.760 - Definitions (Repealed)

Current through June 11, 2024
(Added to NAC by St.
				Treasurer by R061-15, eff. 12-30-2015) - (Substituted in revision for NAC
				385.5515); R by
				R032-22A,
				eff. 9/8/2022
NRS
				  353B.335
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › EDUCATION SAVINGS ACCOUNTS (REPEALED) › Section 353B.765 - "Agreement" defined (Repealed)

Current through June 11, 2024
(Added to NAC by St.
				Treasurer by R061-15, eff. 12-30-2015) - (Substituted in revision for NAC
				385.5517); R by
				R032-22A,
				eff. 9/8/2022
NRS
				  353B.335
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › EDUCATION SAVINGS ACCOUNTS (REPEALED) › Section 353B.770 - "School day" defined (Repealed)

Current through June 11, 2024
(Added to NAC by St.
				Treasurer by R061-15, eff. 12-30-2015) - (Substituted in revision for NAC
				385.552); R by
				R032-22A,
				eff. 9/8/2022
NRS
				  353B.335
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › EDUCATION SAVINGS ACCOUNTS (REPEALED) › Section 353B.775 - "Break in the school year" construed (Repealed)

Current through June 11, 2024
(Added to NAC by St.
				Treasurer by R061-15, eff. 12-30-2015) - (Substituted in revision for NAC
				385.5523); R by
				R032-22A,
				eff. 9/8/2022
NRS
				  353B.335
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › EDUCATION SAVINGS ACCOUNTS (REPEALED) › Section 353B.780 - "Tuition" construed (Repealed)

Current through June 11, 2024
(Added to NAC by St.
				Treasurer by R061-15, eff. 12-30-2015) - (Substituted in revision for NAC
				385.5525); R by
				R032-22A,
				eff. 9/8/2022
NRS
				  353B.335
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › EDUCATION SAVINGS ACCOUNTS (REPEALED) › Section 353B.785 - Application to establish account; open enrollment period; notification of approval or denial; requirements; request for waiver; exemptions (Repealed)

Current through June 11, 2024
(Added to NAC by St.
				Treasurer by R061-15, eff. 12-30-2015) - (Substituted in revision for NAC
				385.5527); R by
				R032-22A,
				eff. 9/8/2022
NRS
				  353B.335
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › EDUCATION SAVINGS ACCOUNTS (REPEALED) › Section 353B.790 - Agreement with State Treasurer; deposit of money into and payments from account; annual list provided to Department; inclusion of certain examinations on list (Repealed)

Current through June 11, 2024
(Added to NAC by St.
				Treasurer by R061-15, eff. 12-30-2015) - (Substituted in revision for NAC
				385.553); R by
				R032-22A,
				eff. 9/8/2022
NRS
				  353B.335
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › EDUCATION SAVINGS ACCOUNTS (REPEALED) › Section 353B.795 - Committee to Review Payments: Creation; members; duties (Repealed)

Current through June 11, 2024
(Added to NAC by St.
				Treasurer by R061-15, eff. 12-30-2015) - (Substituted in revision for NAC
				385.5533); R by
				R032-22A,
				eff. 9/8/2022
NRS
				  353B.335
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › EDUCATION SAVINGS ACCOUNTS (REPEALED) › Section 353B.800 - Termination of agreement by parent (Repealed)

Current through June 11, 2024
(Added to NAC by St.
				Treasurer by R061-15, eff. 12-30-2015) - (Substituted in revision for NAC
				385.5535); R by
				R032-22A,
				eff. 9/8/2022
NRS
				  353B.335
Nevada Administrative Code › Chapter 353B - College Savings Plans of Nevada › EDUCATION SAVINGS ACCOUNTS (REPEALED) › Section 353B.805 - State Treasurer to freeze account if child no longer resides in State; proof required to remove freeze; termination of agreement and dissolution of account (Repealed)

Current through June 11, 2024
(Added to NAC by St.
				Treasurer by R061-15, eff. 12-30-2015) - (Substituted in revision for NAC
				385.5537); R by
				R032-22A,
				eff. 9/8/2022
NRS
				  353B.335