§ 6-84-108. Naming of designated beneficiary and transfers of accounts
(a) An account owner shall have the right to name the designated beneficiary of an account and 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. (b) At the direction of an account owner, all or a portion […]
§ 6-84-109. Account withdrawals
(a) Withdrawal from an account may be made on thirty (30) days’ written notice by the account owner to the Section 529 Plan Review Committee or on shorter notice as the committee may by rule provide. (b) (1) An account withdrawal paid to or for the benefit of any person during any calendar year shall […]
§ 6-84-110. Prohibitions
(a) (1) Total contributions to all accounts established on behalf of a particular designated beneficiary in excess of those reasonably necessary to meet the designated beneficiary’s qualified higher education expenses are prohibited. (2) An employer matching contribution to the account of an employee with an account established under this chapter shall not exceed five hundred […]
§ 6-84-111. Funds exempt from tax — Definitions
(a) (1) Except as otherwise indicated in this chapter, interest, dividends, and capital gains from funds invested in the Arkansas Tax-Deferred Tuition Savings Program or a tax-deferred tuition savings program established by another state under 26 U.S.C. § 529, as in effect on January 1, 2018, shall be exempt from Arkansas income taxes. (2) For […]