2018 Alaska Statutes
Title 14. Education, Libraries, and Museums
Chapter 40. The University of Alaska and the Community Colleges
Article 6. Alaska Higher Education Savings Trust and Alaska Advance College Tuition Savings Fund.
Sec. 14.40.817. Definitions.
In AS 14.40.803 — 14.40.817,
(1) “advance college tuition savings contract” or “contract” means a contract entered into by the board and a purchaser to provide for the qualified higher education expenses of a beneficiary;
(2) “beneficiary” means a designated beneficiary as defined under 26 U.S.C. 529(e)(1) (Internal Revenue Code);
(3) “board” means the Board of Regents of the university;
(4) “eligible educational institution” has the meaning given in 26 U.S.C. 135(c)(3) (Internal Revenue Code);
(5) “fund” means the Alaska advance college tuition savings fund established under AS 14.40.803;
(6) “plan” means the formal plan for administration of an advance college tuition savings program adopted by the board under AS 14.40.809(b);
(7) “purchaser” means the person who is named in the contract and has the rights conferred upon a purchaser under an advance college tuition savings contract;
(8) “qualified higher education expenses” has the meaning given in 26 U.S.C. 529(e)(3) (Internal Revenue Code);
(9) “university” means the University of Alaska, including a community college affiliated with the university.
