There is a newer version of the South Dakota Codified Laws
2011 South Dakota Code
Title 13 EDUCATION
Chapter 63. Higher Education Savings Plan
§13-63-25 Government and non-profit organizations as account owners--Beneficiaries identified after account opened.
SD Codified L § 13-63-25 (through 2011) What's This?
13-63-25. Government and non-profit organizations as account owners--Beneficiaries identified after account opened. A state or local government or organizations described in section 501(c)(3) of the Internal Revenue Code and related regulations may open and become the account owner of an account to fund scholarships for persons whose identity will be determined after an account is opened. In this case, the requirement that a designated beneficiary be designated when an account is opened does not apply and each person who receives an interest in the account as a scholarship shall be treated as a designated beneficiary with respect to the interest.
Source: SL 2001, ch 97, § 25.
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