O.C.G.A.

O.C.G.A. § 20-3-631 (2019)

Purpose

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)

Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.

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The purposes of this article are to:

(1) Provide a program or programs of savings trust agreements to apply distributions toward qualified higher education expenses at eligible educational institutions, as defined in Section 529 of the Internal Revenue Code or other applicable federal law;

(2) Provide for the creation of the Georgia Higher Education Savings Plan, as an instrumentality of the State of Georgia, to assist qualified students in financing costs of attending institutions of higher education;

(3) Encourage timely financial planning for higher education by the creation of savings trust accounts;

(4) Provide a savings program for those persons who wish to save to meet postsecondary educational needs, including postgraduate educational needs; and

(5) Attract students to institutions of higher education within the state.

History

(Code 1981, § 20-3-631, enacted by Ga. L. 2001, p. 76, § 1; Ga. L. 2008, p. 159, § 1/HB 1014.)

Annotations

Code Commission notes. - Pursuant to Code Section 28-9-5, in 2001, Code Section 20-2-631, as enacted by Ga. L. 2001, p. 76, § 1, was redesignated as

U.S. Code. - Section 529 of the Inter-

nal Revenue Code, referred to in paragraph (1), is codified in Title 26 of the United States Code.

Law reviews. - For article, ‘‘Wills, Trusts & Administration of Estates,’’ see 53 Mercer L. Rev. 499 (2001).