Texas Education Code

§ 54.701 — DEFINITIONS

ED § 54.701Title 3. HIGHER EDUCATION · Part A. HIGHER EDUCATION IN GENERAL · Ch. 54. TUITION AND FEES · Art. G. HIGHER EDUCATION SAVINGS PLAN

Statute text

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In this subchapter:

(1)"Beneficiary" means an individual designated as the individual whose qualified higher education expenses are expected to be paid from the savings trust account.

(2)"Board" means the Prepaid Higher Education Tuition Board.

(3)"Eligible educational institution" has the meaning assigned by Section 529, Internal Revenue Code of 1986, as amended.

(4)"Financial institution" means a bank, trust company, savings and loan association, credit union, broker-dealer, mutual fund, insurance company, or other similar financial institution authorized to transact business in this state.

(5)"Nonqualified withdrawal" means a withdrawal from a savings trust account other than:

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Legislative history

Acts 2019, 86th Leg., R.S., Ch. 903 (H.B. 3655), Sec. 4, eff. June 10, 2019.