§ 18-19A-03. Administration of Plan
West's Annotated Code of MarylandEducationEffective: June 1, 2023
Effective: June 1, 2023
MD Code, Education, § 18-19A-03
§ 18-19A-03. Administration of Plan
(a)(1) The State Treasurer may issue requests for proposals to evaluate and determine the means for the administration, management, promotion, or marketing of the Plan.
(b)(1) Except for applications made under § 18-19A-04.1 of this subtitle, the State Treasurer may require an initial application fee to be used for administrative costs of the Plan.
(c)(1) Contributions to the Plan on behalf of a qualified designated beneficiary may not exceed the maximum amount determined by the State Treasurer to be in accordance with § 529 of the Internal Revenue Code.
(d) The State Treasurer shall adopt procedures to ensure that contributions to the Plan plus contributions or payments to other qualified state tuition programs do not exceed a total maximum amount determined under § 529 of the Internal Revenue Code for contributions to multiple qualified state tuition programs.
(e)(1) The Plan:
(3) If the Plan is divided into multiple portfolios as provided in paragraph (2) of this subsection, the debts, liabilities, obligations, and expenses incurred, contracted for, or otherwise existing with respect to a particular portfolio shall be enforceable against the assets of that portfolio only and not against the assets of the Plan generally, if:
Credits
Added by Acts 2000, c. 494, § 1, eff. July 1, 2000. Amended by Acts 2016, c. 689, § 1, eff. July 1, 2016; Acts 2016, c. 690, § 1, eff. July 1, 2016; Acts 2018, c. 12, § 6; Acts 2018, c. 419, § 1, eff. June 1, 2018; Acts 2023, c. 113, § 1, eff. June 1, 2023.
MD Code, Education, § 18-19A-03, MD EDUC § 18-19A-03
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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