Texas Education Code

§ 54.710 — PLAN LIMITATIONS

ED § 54.710Title 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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(a)Nothing in this subchapter or in any savings trust agreement entered into under this subchapter may be construed to:

(1)give a beneficiary any rights or legal interest with respect to a savings trust account unless the beneficiary is the account owner;

(2)guarantee that amounts saved under the plan will be sufficient to cover the qualified higher education expenses of a beneficiary; or

(3)establish state residency for tuition or other purposes for a beneficiary because of the designation as a beneficiary.

(b)Nothing in this subchapter or in any savings trust agreement entered into under this subchapter may be construed to create any obligation of the state, any agency or instrumentality of the state, or a plan manager to guarantee for the benefit of an account owner or beneficiary:

(1)the return of any amount contributed to an account;

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Legislative history

Added by Acts 2001, 77th Leg., ch. 1250, Sec. 1, eff. June 15, 2001.