Chapter 1 Purposes
Chapter 2 Definitions
Chapter 3 Indiana Education Savings Authority
Chapter 4 Authority Board of Directors and Officers
Chapter 5 Funds and Accounts
Chapter 7 Indiana Family College Savings Programs
Chapter 8 Indiana Family College Savings Trust Program
Chapter 10 Miscellaneous Provisions

Terms Used In Indiana Code > Title 21 > Article 9 - Education Savings Programs

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Bequest: Property gifted by will.
  • bid: includes a quotation. See Indiana Code 4-13-18-2
  • child: means a person who:

    Indiana Code 4-13-19-1

  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Contract: A legal written agreement that becomes binding when signed.
  • contractor: refers to a person who:

    Indiana Code 4-13-18-3

  • department: refers to the Indiana department of administration established by IC 4-13-1-2. See Indiana Code 4-13-17-1
  • Devise: To gift property by will.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Ex officio: Literally, by virtue of one's office.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lineal descendant: Direct descendant of the same ancestors.
  • minor: means a person less than eighteen (18) years of age. See Indiana Code 1-1-4-5
  • Month: means a calendar month, unless otherwise expressed. See Indiana Code 1-1-4-5
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
  • public works contract: refers to :

    Indiana Code 4-13-18-4

  • Quorum: The number of legislators that must be present to do business.
  • real property: include lands, tenements, and hereditaments. See Indiana Code 1-1-4-5
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5