In AS 14.40.803 14.40.817, (1) advance college tuition savings contract or contract means a contract entered into by the board and a purchaser to provide for the qualified higher education expenses of a beneficiary;
(2) beneficiary means a designated beneficiary as defined under 26 U.S.C. 529(e)(1) (Internal Revenue Code);
(3) board means the Board of Regents of the university;
(4) eligible educational institution has the meaning given in 26 U.S.C. 135(c)(3) (Internal Revenue Code);
(5) fund means the Alaska advance college tuition savings fund established under AS 14.40.803;
(6) plan means the formal plan for administration of an advance college tuition savings program adopted by the board under AS 14.40.809(b);
(7) purchaser means the person who is named in the contract and has the rights conferred upon a purchaser under an advance college tuition savings contract;
(8) qualified higher education expenses has the meaning given in 26 U.S.C. 529(e)(3) (Internal Revenue Code);
(9) university means the University of Alaska, including a community college affiliated with the university.