Ohio Administrative Code
Title 3334 - Ohio Tuition Trust Authority
Chapter 3334-1 - General Provisions
Section 3334-1-05 - Application: refusal to enter into a variable college savings contract; refund

(A) Applications to enter into a variable college savings contract shall be available from the office of the authority, on the authority's website at www.collegeadvantage.com and at other places considered necessary by the authority. Applications received by the authority shall be date-stamped as evidence of receipt.

(B) To be complete, an application shall contain all of the information the authority determines necessary to properly administer the application process.

(C) The authority shall not accept an application to enter into a variable college savings contract with the contributor for a proposed beneficiary if the dollar value for all tuition credits and/or tuition units previously purchased for the proposed beneficiary pursuant to a tuition payment contract and/or contributions made pursuant to a variable college savings contract for that same beneficiary equals or exceeds the maximum account value. If more than one applicant has submitted an application for the same proposed individual beneficiary and said applications, when taken together, equal or exceed the maximum account value, the authority shall accept applications to enter into the applicable contracts for the proposed beneficiary in the order of their receipt.

(D) In accordance with section 1347.05 of the Revised Code, the authority shall require social security numbers and other information be provided for each applicant, account owner , beneficiary and such other persons as the authority shall deem appropriate in order to carry out the authority's duties under Chapter 3334. of the Revised Code or other applicable law.

(E) The authority may refuse to enter into a tuition payment contract and/or variable college savings contract. Reasons for refusal may include but not necessarily be limited to the following: