Sec. 06.65.200. Rollover distribution.
(a) Subject to the restrictions in the federal authorizing law for rollover distributions, a designated beneficiary or the designated beneficiary’s representative may make a distribution of the money in a program account to another (1) program account if the designated beneficiary of the program account to which the distribution is being made is (A) the […]
Sec. 06.65.210. Statements.
(a) A financial contractor shall provide program account statements to the designated beneficiary or the designated beneficiary’s representative of each program account established with the financial contractor at least four times each year and at the times the department establishes. (b) A financial contractor shall provide the department with the reports and information that the […]
Sec. 06.65.220. Preparation and filing.
In addition to the other reporting requirements of this chapter, a financial contractor shall prepare and file the statements, program account information, and other information as required by state and federal law and state and federal agencies.
Sec. 06.65.230. Separate accounting.
A financial contractor shall provide separate accounting for each program account established with the financial contractor.
Sec. 06.65.240. Annual fee.
A financial contractor may impose an annual fee as may be established by the department on the program account owner for the maintenance of a program account.
Sec. 06.65.250. Use as security.
A person may not use a program account or an interest in a program account as security for a loan. If a person pledges a program account or an interest in a program account as security for a loan, the pledge is void.
Sec. 06.65.260. No state obligation.
(a) This chapter may not be construed to create an obligation of the state, the department, or an agency or instrumentality of the state to guarantee for the benefit of a designated beneficiary (1) the return of the principal deposited in the program account; (2) a rate of interest or other return on the principal […]
Sec. 06.65.270. Confidentiality.
The department, the Department of Health, and another state agency that receives information under AS 06.65.280 shall maintain the confidentiality of the information they receive or exchange under this chapter about eligible individuals, designated beneficiaries, and program accounts as required by state and federal law.
Sec. 06.65.280. Exchange of information.
The department may exchange information with the Department of Health and other state agencies to determine whether an individual is an eligible individual.
Sec. 06.65.130. Number of program accounts.
An eligible individual may not be the designated beneficiary on more than one program account.