Chapter 256 — Chapter 256
5 sections in this chapter.
HRS §256-1 Definitions
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§256-1 Definitions. As used in this chapter, unless the context otherwise requires: "Account" or "college account" means an individual savings account established in accordance with this chapter. "Account owner" means the individual who enters into a tuition savings agreement pur…
HRS §256-3 Functions and powers of the director of finance
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§256-3 Functions and powers of the director of finance. (a) The director of finance shall implement the program under the terms and conditions established by this chapter. The director of finance may make changes to the program as required for participants to obtain or maintain t…
HRS §256-4 Program requirements; college account
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§256-4 Program requirements; college account. (a) A college account may be opened by any person who desires to save money for the payment of the qualified higher education expenses on behalf of a designated beneficiary. The person shall be considered the account owner as defined …
HRS §256-5 Program limitations; college account
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§256-5 Program limitations; college account. (a) Nothing in this chapter shall be construed to: (b) Nothing in this chapter shall create or be construed to create any obligation of the director of finance, the State, or any agency or instrumentality of the State to guarantee for …
HRS §256-6 College savings program trust fund
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§256-6 College savings program trust fund. (a) There is established the college savings program trust fund. The director of finance shall have custody of the fund. All payments from the fund shall be made in accordance with this chapter. (b) The fund shall consist of a trust acco…