2005 Idaho Code - 33-5407 — LIMITATIONS OF CHAPTER

                                  TITLE  33
                                  EDUCATION
                                  CHAPTER 54
                           COLLEGE SAVINGS PROGRAM
    33-5407.  LIMITATIONS OF CHAPTER. (1) Nothing in this chapter shall be
construed to:
    (a)  Give any designated beneficiary any rights or legal interest with
    respect to an account unless the designated beneficiary is the account
    owner;
    (b)  Guarantee that a designated beneficiary will be admitted to a higher
    education institution or be allowed to continue enrollment at or graduate
    from a higher education institution located in this state after admission;
    (c)  Establish state residency for a person merely because the person is a
    designated beneficiary;
    (d)  Guarantee that amounts saved pursuant to the program will be
    sufficient to cover the qualified higher education expenses of a
    designated beneficiary.
    (2)  Nothing in this chapter establishes any obligation of this state or
any agency or instrumentality of this state to guarantee for the benefit of
any account owner, contributor to an account or designated beneficiary any of
the following:
    (a)  The return of any amounts contributed to an account;
    (b)  The rate of interest or other return on any account;
    (c)  The payment of interest or other return on any account;
    (d)  Tuition rates or the cost of related higher education expenditures.
    (3)  Under rules adopted by the board, every contract, application,
deposit slip or other similar document that may be used in connection with a
contribution to an account shall clearly indicate that the account is not
insured by this state and neither the principal deposited nor the investment
return is guaranteed by this state.