On the direction of an account owner, all or a portion of an account may be transferred to another account of which the designated beneficiary is a member of the family of the designated beneficiary of the transferee account, if the transferee account was created by this chapter or under a qualified state tuition program maintained by another state in accordance with section 529 of the Internal Revenue Code, or to an Achieving a Better Life Experience account in accordance with section 529A of the Internal Revenue Code.

Terms Used In South Dakota Codified Laws 13-63-13

  • 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

Source: SL 2001, ch 97, § 13; SL 2022, ch 49, § 6.

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