Utah Code 53B-8a-204. Distribution of program money — Application process — Prioritization — Account agreements
Current as of: 2023 | Check for updates
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53B-8a-204. Distribution of program money — Application process — Prioritization — Account agreements.
(1) | The plan shall distribute money in the program by creating a 529 savings account for an eligible individual identified by a community partner. |
(a) | is under 20 years of age and is a resident of Utah; |
(b) | is economically disadvantaged; and |
(c) | receives, or has a family member, a foster family member, or a legal custodian or legal guardian who receives, services from a community partner. See Utah Code 53B-8a-201 | ||||||||||
(2) |
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(3) | If the plan approves a community partner’s application for an allocation of program money, the plan may not promise or otherwise encumber the allocation to any other person unless the allocation is forfeited under Subsection (5)(b)(ii). |
(4) |
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(5) |
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Amended by Chapter 365, 2020 General Session