ORS 178.350
Designated beneficiary of account for higher education expenses

  • confidentiality of account information

(1)

An account owner shall have the right at any time to change the designated beneficiary of an account to another individual who is a member of the family of the former designated beneficiary.

(2)

An account owner shall have the right at any time to direct that all or a portion of an account be transferred to the account of another designated beneficiary who is a member of the family of the former designated beneficiary.

(3)

The right to change the designated beneficiary or to transfer between accounts contained in subsections (1) and (2) of this section may be denied if, under rules adopted by the Oregon 529 Savings Board, the exercise of the right would result in either excess contributions to an account or the exercise of impermissible investment direction by the account owner.

(4)

Individual account information, including but not limited to names, addresses, telephone numbers, personal identification information, amounts contributed and earnings on amounts contributed, is confidential and must be maintained as confidential:

(a)

Except to the extent necessary to administer the Oregon 529 Savings Network in a manner consistent with ORS 178.300 (Definitions for ORS 178.300 to 178.360) to 178.360 (Consideration of amounts in accounts for higher education expenses in benefit eligibility determinations), Oregon tax laws and the Internal Revenue Code; or

(b)

Unless the person who provides the information or is the subject of the information expressly agrees in writing that the information may be disclosed.

(5)

This section applies only to accounts established for qualified higher education expenses. [Formerly 348.867]

Source: Section 178.350 — Designated beneficiary of account for higher education expenses; confidentiality of account information, https://www.­oregonlegislature.­gov/bills_laws/ors/ors178.­html.

178.010
Oath and bond 178.020
Additional bond requirement 178.030
Premiums on surety bonds of treasurer and employees paid by state 178.040
Successive recoveries on bond 178.050
Duties of State Treasurer 178.060
Deputy State Treasurer 178.065
Authority of State Treasurer to require fingerprints 178.090
Manner of providing evidence of receipt of funds or securities 178.200
Oregon Retirement Savings Board 178.205
Powers and duties of Oregon Retirement Savings Board 178.210
Requirements for Oregon Retirement Savings Plan 178.215
Rules for Oregon Retirement Savings Plan 178.220
Confidentiality of account information 178.225
Oregon Retirement Savings Plan Administrative Fund 178.230
Prerequisites to establishment of Oregon Retirement Savings Plan 178.235
Annual reports 178.240
Preemption 178.245
Assistance of state agencies with outreach, technical assistance and compliance services 178.250
Compliance with plan 178.255
Investigation by Commissioner of Bureau of Labor and Industries 178.260
Final orders relating to compliance 178.300
Definitions for ORS 178.300 to 178.360 178.305
Oregon 529 Savings Network 178.310
Oregon 529 Savings Board 178.315
Board powers and duties 178.320
Oregon 529 Savings Network Fund 178.325
State interest in contributions and earnings 178.330
Annual report to Governor and Legislative Assembly 178.335
Network participation for higher education expenses 178.340
Right to direct investments for higher education expenses 178.345
Prohibitions and limitations on accounts for higher education expenses 178.350
Designated beneficiary of account for higher education expenses 178.355
Withdrawals from accounts for higher education expenses 178.360
Consideration of amounts in accounts for higher education expenses in benefit eligibility determinations 178.375
Definitions for ORS 178.375, 178.380 and 178.385 178.380
Establishment of qualified ABLE program 178.385
Right to direct investments for ABLE accounts 178.990
Penalties
Green check means up to date. Up to date

Current through early 2024

§ 178.350’s source at oregon​.gov