13-63-21. Council to adopt rules to prevent excess contributions.
The council shall adopt policies, guidelines, procedures, or rules pursuant to chapter 1-26 to prevent contributions on behalf of a designated beneficiary in excess of the maximum amounts permitted under section 529 of the Internal Revenue Code and related regulations.
Source: SL 2001, ch 97, §21; SL 2002, ch 94, §3.
Structure South Dakota Codified Laws
Chapter 63 - Higher Education Savings Plan
Section 13-63-1 - Definitions.
Section 13-63-2 - Powers of South Dakota Investment Council.
Section 13-63-3 - Depositories and managers--Bidding by financial institutions--Selection criteria.
Section 13-63-4 - Contract with financial institution to serve as program manager.
Section 13-63-5 - Duties of program manager.
Section 13-63-6 - Term of contract between council and financial institution.
Section 13-63-7 - Conditions applicable to nonrenewed contracts.
Section 13-63-8 - Termination of contract for good cause--Transfer of accounts.
Section 13-63-9 - Program operated through accounts--Requirements to open.
Section 13-63-10 - Contributions to accounts.
Section 13-63-11 - Withdrawals from account.
Section 13-63-12 - Changing designated beneficiary.
Section 13-63-13 - Transferring funds to another account--Conditions.
Section 13-63-14 - Limitations on changing designated beneficiary and rolling over funds.
Section 13-63-17 - Accounts to be maintained separately.
Section 13-63-21 - Council to adopt rules to prevent excess contributions.
Section 13-63-21.1 - Excess contributions--Processing.
Section 13-63-22 - Account distributions to be reported as required by federal law.
Section 13-63-23 - Account statements--Contents.
Section 13-63-24 - Statements to comply with federal or state tax laws.
Section 13-63-26 - Identifying information of account holders and beneficiaries confidential.
Section 13-63-27 - Account balance of beneficiary student treated as asset of parent--Exceptions.
Section 13-63-28 - Limitations of chapter.
Section 13-63-29 - Chapter does not establish guarantees.
Section 13-63-30 - Mandated disclaimers.