(1) An account owner shall have the right at any time to change the designated beneficiary of an account to another individual who is a member of the family of the former designated beneficiary.
(2) An account owner shall have the right at any time to direct that all or a portion of an account be transferred to the account of another designated beneficiary who is a member of the family of the former designated beneficiary.
(3) The right to change the designated beneficiary or to transfer between accounts contained in subsections (1) and (2) of this section may be denied if, under rules adopted by the Oregon 529 College Savings Board, the exercise of the right would result in either excess contributions to an account or the exercise of impermissible investment direction by the account owner.
(4) Individual account information, including but not limited to names, addresses, telephone numbers, personal identification information, amounts contributed and earnings on amounts contributed, is confidential and must be maintained as confidential:
(a) Except to the extent necessary to administer the Oregon 529 College Savings Network in a manner consistent with ORS 348.841 to 348.873, Oregon tax laws and the Internal Revenue Code; or
(b) Unless the person who provides the information or is the subject of the information expressly agrees in writing that the information may be disclosed. [1999 c.746 §9; 2001 c.12 §7; 2003 c.280 §13]
Note: See note under 348.841.
Section: Previous 348.853 348.855 348.856 348.857 348.860 348.863 348.865 348.867 348.869 348.870 348.873 348.875 348.885 348.890 348.900 NextLast modified: August 7, 2008