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Chapter 1. Purposes
21-9-1-1. Purposes of Article - Sec. 1. The following are the purposes of this article:...
Chapter 2. Definitions
21-9-2-1. Applicability of Definitions - Sec. 1. The definitions in this chapter apply throughout this...
21-9-2-2. "Account" or "Individual Account" - Sec. 2. "Account" or "individual account" means a trust account...
21-9-2-3. "Account Beneficiary" - Sec. 3. "Account beneficiary" means the individual who is: (1)...
21-9-2-4. "Account Owner" - Sec. 4. "Account owner" means the individual, an emancipated minor,...
21-9-2-5. Repealed - As added by P.L.165-1996, SEC.1. Repealed by P.L.135-2002, SEC.30.
21-9-2-6. "Administrative Account" - Sec. 6. "Administrative account" means the administrative account of the...
21-9-2-7. Repealed - As added by P.L.165-1996, SEC.1. Repealed by P.L.135-2002, SEC.30.
21-9-2-8. "Authority" - Sec. 8. "Authority" means the Indiana education savings authority created...
21-9-2-9. "Board" - Sec. 9. "Board" means the board of directors of the...
21-9-2-9.5. "Contribution" - Sec. 9.5. "Contribution" means a payment directly allocated to an...
21-9-2-10. "Contributor" - Sec. 10. "Contributor" means any individual, emancipated minor, trust, estate,...
21-9-2-10.5. Repealed - As added by P.L.25-1999, SEC.4. Repealed by P.L.135-2002, SEC.30.
21-9-2-11. "Education Savings Program" - Sec. 11. "Education savings program" means: (1) a trust program;...
21-9-2-12. "Endowment Fund" - Sec. 12. "Endowment fund" means the endowment fund established under...
21-9-2-13. Repealed - As added by P.L.165-1996, SEC.1. Repealed by P.L.135-2002, SEC.30.
21-9-2-14. "Financial Institution" - Sec. 14. "Financial institution" means a bank, a commercial bank,...
21-9-2-15. "General Operating Fund" - Sec. 15. "General operating fund" means the general operating fund...
21-9-2-16. Repealed - As added by P.L.165-1996, SEC.1. Amended by P.L.135-2002, SEC.9. Repealed...
21-9-2-16.5. "Internal Revenue Code" - Sec. 16.5. "Internal Revenue Code" means the Internal Revenue Code...
21-9-2-17. Repealed - As added by P.L.165-1996, SEC.1. Repealed by P.L.135-2002, SEC.30.
21-9-2-17.5. "Member of the Family" - Sec. 17.5. (a) "Member of the family" means an individual...
21-9-2-18. "Program Account" - Sec. 18. "Program account" means the program account of the...
21-9-2-19. Repealed - As added by P.L.165-1996, SEC.1. Repealed by P.L.135-2002, SEC.30.
21-9-2-19.5. "Qualified Higher Education Expenses" - Sec. 19.5. "Qualified higher education expenses" has the meaning set...
21-9-2-19.7. "Rollover Distribution" - Sec. 19.7. "Rollover distribution" means a rollover as defined in...
21-9-2-20. Repealed - As added by P.L.165-1996, SEC.1. Repealed by P.L.85-2000, SEC.6.
21-9-2-21. Repealed - As added by P.L.165-1996, SEC.1. Repealed by P.L.85-2000, SEC.6.
21-9-2-22. Repealed - As added by P.L.165-1996, SEC.1. Repealed by P.L.135-2002, SEC.30.
21-9-2-22.1. "Trust Account" - Sec. 22.1. "Trust account" means a trust account established by...
21-9-2-23. "Trust Fund" - Sec. 23. "Trust fund" means the trust fund created under...
21-9-2-24. "Trust Program" - Sec. 24. "Trust program" means the Indiana family college savings...
Chapter 3. Indiana Education Savings Authority
21-9-3-1. Creation of Authority - Sec. 1. The Indiana education savings authority is created. As...
21-9-3-2. Authority as Body Corporate and Politic; Not Agency of State - Sec. 2. (a) The authority is a body corporate and...
21-9-3-3. Establishment of Education Savings Programs - Sec. 3. The authority may establish any number of education...
21-9-3-4. Exemptions From State Taxation - Sec. 4. Because the management and operation of the education...
21-9-3-5. Power to Contract - Sec. 5. The authority may contract with public or private...
Chapter 4. Authority Board of Directors and Officers
21-9-4-1. Board of Directors; Members; Vacancy; Chairperson; Removal - Sec. 1. (a) The board of directors of the authority...
21-9-4-2. Salary; Reimbursement - Sec. 2. (a) An appointed member of the board is...
21-9-4-3. Designation of Ex Officio Member - Sec. 3. An ex officio member of the board may...
21-9-4-4. Power of Board to Employ Manager and Delegate Functions - Sec. 4. The board may: (1) employ a manager, who...
21-9-4-5. Quorum; Meetings - Sec. 5. (a) Five (5) members of the board are...
21-9-4-6. Authority as Public Agency; Board as Governing Body - Sec. 6. (a) The authority is a public agency for...
21-9-4-7. Powers of Board - Sec. 7. In addition to any power granted by this...
21-9-4-8. Annual Report by Authority - Sec. 8. The authority shall prepare an annual report for...
21-9-4-9. Acceptance of Gifts, Bequests, Donations, and Devises by Authority - Sec. 9. (a) The authority may accept gifts, bequests, donations,...
21-9-4-10. Duties of Manager of Authority - Sec. 10. A manager or another person designated by resolution...
21-9-4-11. Surety Bond - Sec. 11. Before the adoption and implementation of any education...
21-9-4-12. Duties of Authority - Sec. 12. The authority shall do the following: (1) Provide...
21-9-4-13. Conflicts of Interest - Sec. 13. Notwithstanding any other law, it is not a...
Chapter 5. Funds and Accounts
21-9-5-1. Establishment of Funds - Sec. 1. The following are established: (1) The general operating...
21-9-5-2. Investment Policies for General Operating Fund, Administrative Account, and Other Money - Sec. 2. The authority shall establish and implement investment policies...
21-9-5-3. Repealed - As added by P.L.165-1996, SEC.1. Repealed by P.L.85-2000, SEC.6.
21-9-5-4. Investment Policies for Endowment Fund and Program Account - Sec. 4. The board shall establish and implement investment policies...
21-9-5-5. Use of Trust Fund - Sec. 5. The trust fund and other property of the...
21-9-5-6. Repealed - As added by P.L.165-1996, SEC.1. Repealed by P.L.135-2002, SEC.30.
21-9-5-7. Criteria for Management of Assets in Trust Fund - Sec. 7. Criteria for management of assets in the trust...
21-9-5-8. Payment of Authority's Expenses - Sec. 8. (a) General operating, administrative, and capital expenses of...
21-9-5-9. Annual Audit of Authority - Sec. 9. (a) The funds, accounts, management, and operations of...
Chapter 6. Repealed - Repealed by P.L.85-2000, SEC.6.
Chapter 7. Indiana Family College Savings Programs
21-9-7-1. Powers of Board - Sec. 1. In addition to any other powers granted by...
21-9-7-2. Repealed - As added by P.L.165-1996, SEC.1. Amended by P.L.135-2002, SEC.22; P.L.2-2007,...
21-9-7-3. Repealed - As added by P.L.165-1996, SEC.1. Amended by P.L.135-2002, SEC.23. Repealed...
21-9-7-4. Property of Account Owner - Sec. 4. Money deposited in an account by the account...
21-9-7-5. Repealed - As added by P.L.25-1999, SEC.10. Repealed by P.L.135-2002, SEC.30.
21-9-7-6. Repealed - As added by P.L.25-1999, SEC.11. Repealed by P.L.135-2002, SEC.30.
21-9-7-7. Use of Funds as Loan Security Prohibited - Sec. 7. Funds held in an account of an education...
21-9-7-8. Maximum Account Balance - Sec. 8. (a) Contributions to an account may not exceed...
21-9-7-9. Authorization to Adopt Rules to Establish a Penalty - Sec. 9. The authority may adopt rules or emergency rules...
Chapter 8. Indiana Family College Savings Trust Program
21-9-8-1. College Choice Plan; Administration of Trust Funds - Sec. 1. (a) The board shall establish a trust program...
21-9-8-2. Deposits of Money; Division of Trust Fund Into Separate Accounts - Sec. 2. (a) The money received under the trust program,...
Chapter 9. Repealed - Repealed by P.L.135-2002, SEC.30.
Chapter 10. Miscellaneous Provisions
21-9-10-1. Purchases; Acquisition and Disposition of Property - Sec. 1. The authority may: (1) contract for the purchase...
21-9-10-2. Exemption of Accounts From State Taxation - Sec. 2. (a) Accounts and all earnings or interest on...
21-9-10-3. No Responsibility by State or Higher Education Institutions to Fulfill Obligations of Authority - Sec. 3. This article may not be construed as an...
21-9-10-4. Liberal Construction of Article - Sec. 4. This article shall be construed liberally to effectuate...