Title I, STATE SOVEREIGNTY AND MANAGEMENT (Ch. 1 - 38D)

The trust may enter into participation agreements with participants on behalf of beneficiaries pursuant to the following terms and agreements: 1. Each participation agreement may require a participant to agree to invest a specific amount of money in the trust for a specific perio…

1. a. The treasurer of state shall segregate moneys received by the trust into two funds: the program fund and the administrative fund. b. All moneys paid by participants in connection with participation agreements shall be deposited as received into separate accounts within the …

A participant may cancel a participation agreement at will. Upon cancellation of a participation agreement, a participant shall be entitled to the return of the participant’s account balance. 98 Acts, ch 1172, §5 ; 99 Acts, ch 96, §1 ; 99 Acts, ch 122, §6, 7, 10 ; 2003 Acts, ch 1…

1. a. A participant retains ownership of all payments made under a participation agreement up to the date of utilization for payment of qualified education expenses for the beneficiary. b. All income derived from the investment of the payments made by the participant shall be con…

A student loan program, student grant program, or other program administered by any agency of the state, except as may be otherwise provided by federal law or the provisions of any specific grant applicable to that law, shall not take into account and shall not consider amounts a…

1. a. The treasurer of state shall submit an annual audited financial report, prepared in accordance with generally accepted accounting principles, on the operations of the trust by November 1 to the governor and the general assembly. b. The annual audit shall be made either by t…

1. For federal income tax purposes, the Iowa educational savings plan trust shall be considered a qualified state tuition program exempt from taxation pursuant to section 529 of the Internal Revenue Code . The Iowa educational savings plan trust meets the requirements of section …