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14.15.02.00.htm 14.15.02.00. Title 14 INDEPENDENT AGENCIES Subtitle 15 COLLEGE SAVINGS PLANS OF MARYLAND Chapter 02 Maryland College Investment Plan Authority: Education Article, §18-1905, Annotated Code of Maryland
14.15.02.01.htm 14.15.02.01. 01 Definitions.. A. In this chapter, the following terms have the meanings indicated.. B. Terms Defined.. 1) "Board" means the Maryland Higher Education Investment Board.. 2) "Contributor" means the person who establishes an investment account on behalf of a qualified designated beneficiary.3) "Investment account" means an account established by a contributor under this subtitle on behalf of a qualified designated beneficiary for the purpose of applying distribut
14.15.02.02.htm 14.15.02.02. 02 Duties, Responsibilities, and Authority over the Plan.. To carry out Education Article, Title 18, Subtitle 19A, Annotated Code of Maryland, the Board has been vested with the authority to adopt regulations which are consistent with those provisions and to establish the form of the Plan, including determinations as to the establishment of a trust and the offering of multiple investment options.
14.15.02.03.htm 14.15.02.03. 03 Form of Plan.. The Plan shall be established in the form of a trust titled the Maryland College Investment Plan Trust. The Plan shall offer not less than three and not more than 20 investment options.
14.15.02.04.htm 14.15.02.04. 04 Statements.. At least annually, each contributor shall receive a master account statement that provides separate accounting for each investment option selected by the contributor for a particular qualified designated beneficiary and itemized contributions and withdrawals for each investment option during the period covered by the master account statement. The master account statement shall identify each investment option selected by the contributor for the qu
14.15.02.9999.htm 14.15.02.9999. Administrative History Effective date:. Regulations .01―04 adopted as an emergency provision effective November 11, 2002 (29:24 Md. R. 1915) emergency status extended at 30:6 Md. R. 417; emergency status expired July 1, 2003; adopted permanently effective July 21, 2003 (30:14 Md. R. 938)
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