Georgia Code, Title 20, Chapter 3, Article 11 - Georgia Higher Education Savings Plan

• § 20-3-630 - Short Title
  This article shall be known and may be cited as the "Georgia Higher Education Savings Plan Act."
• § 20-3-631 - Purpose
  The purposes of this article are to: (1) Provide a program or programs of savings trust agreements to apply distributions toward qualified higher education...
• § 20-3-632 - Definitions
  As used in this article, the term: (1) "Account contributor" means a resident or nonresident person, corporation, trust, charitable organization, or other entity which...
• § 20-3-633 - Creation; Board of Directors; Assignment to Department of Administrative Services
  (a)(1) There is created the Georgia Higher Education Savings Plan, as a body corporate and politic and an instrumentality of the state, for purposes...
• § 20-3-634 - Savings Trust Accounts; Availability; Terms and Provisions
  (a) The plan, through one or more programs, shall make savings trust agreements and savings trust accounts available to the public, under which account...
• § 20-3-635 - Administration of Fund; Types of Accounts; Office Location; Record Maintenance; Form of Contribution; Earnings; Preservation
  (a)(1) There is created the Georgia Higher Education Savings Plan Trust Fund as a separate fund in the state treasury. The trust fund shall...
• § 20-3-636 - Taxation of Fund Property and Income
  The trust fund property and income shall be subject to taxation by the state only as provided by Code Section 48-7-27 and shall not...
• § 20-3-637 - Investment of Plan Funds; Competitive Solicitation of Service Providers; Sale, Assignment or Transfer of Investments
  (a) The board shall have authority to establish a comprehensive investment plan for the purposes of this article and to invest any funds of...
• § 20-3-638 - Annual Statement and Report Requirements; Audits
  (a) The board shall furnish, subject to reasonable administrative fees and charges, to each account owner an annual statement of the following: (1) The...
• § 20-3-639 - Plan Not Designed As Promise or Guarantee of Educational Benefits
  This article is not a promise or guarantee that any beneficiary will be: (1) Admitted to any institution of higher education; (2) Admitted to...
• § 20-3-640 - No Guarantee of Full Coverage of Educational Expenses
  Nothing in this article or in any savings trust agreement entered into pursuant to this article shall be construed as a promise or guarantee...
• § 20-3-641 - Effect of Account in Determining Eligibility for State Aid
  Notwithstanding any state law to the contrary, no moneys on deposit in any savings trust account shall be considered an asset of the parent,...
• § 20-3-642 - Records Not Open to Public Inspection; Duration
  (a) The provisions of Article 4 of Chapter 18 of Title 50 notwithstanding, the following records, or portions thereof, shall not constitute public records...

Last modified: October 14, 2016