Nebraska Administrative Code
Topic - TREASURER, STATE
Title 429 - NEBRASKA EDUCATIONAL SAVINGS PLAN TRUST
Chapter 1 - RULES AND REGULATIONS FOR THE NEBRASKA EDUCATIONAL SAVINGS PLAN TRUST
Section 429-1-003 - Participant Eligibility and Designation
Current through September 17, 2024
003.1 Participant Eligibility and Designation A Participant may be anyone who has a valid Social Security number or U.S. tax identification number. The Participant shall designate the name and date of birth of the Beneficiary and provide all other documentation and certifications requested in the Participation Agreement.
003.2 Participation Agreement Each Participant must agree to be bound by a Participation Agreement that specifies the terms and conditions under which the Participant shall participate in the Program. To the extent allowed by the Code and the Act, a Participation Agreement may be amended by the Trustee upon prior notice to the Participant and may also be amended by the Participant to increase or decrease the level of Contributions and change the designation of a Beneficiary.
003.3 Participant Changes To the extent permitted by the Code, a Participant may transfer ownership of an Account to another person or entity eligible to be a Participant under the Code and the Act. Any such change shall not be effective until the Trust has received notice of the transfer and the new Participant has agreed to be bound by a Participation Agreement.
