| (a) A purchaser may transfer money between an account under this subchapter and an account under another plan established by this state or by another state or other authorized entity in accordance with Internal Revenue Code, §529, to the extent and in the manner authorized by that section. (b) The value of the account at the time of transfer is the Transfer Value less any fees due and payable under the contract. (c) To apply for a transfer, the purchaser shall complete and submit a transfer request form promulgated by the board not later than 30 days prior to the desired effective date of the transfer. Upon request by the executive director, plan manager, or other designee, the purchaser shall provide any additional information necessary to properly effectuate the transfer. (d) Any fees that are due and payable to the program under the board's fee schedule must be paid by the purchaser prior to the transfer. (e) Transfers to another qualified tuition program for the benefit of a designated beneficiary are limited to one per 12-month period or as otherwise provided by Internal Revenue Code, §529. |
