Designated beneficiary of account for higher education expenses
- • confidentiality of account information
(1) An account owner shall have the right at any time to change the designated beneficiary of an account to another individual who is a member of the family of the former designated beneficiary.
(2) An account owner shall have the right at any time to direct that all or a portion of an account be transferred to the account of another designated beneficiary who is a member of the family of the former designated beneficiary.
(3) The right to change the designated beneficiary or to transfer between accounts contained in subsections (1) and (2) of this section may be denied if, under rules adopted by the Oregon 529 Savings Board, the exercise of the right would result in either excess contributions to an account or the exercise of impermissible investment direction by the account owner.
(4) Individual account information, including but not limited to names, addresses, telephone numbers, personal identification information, amounts contributed and earnings on amounts contributed, is confidential and must be maintained as confidential:
(a) Except to the extent necessary to administer the Oregon 529 Savings Network in a manner consistent with ORS 178.300 (Definitions for ORS 178.300 to 178.360) to 178.360 (Consideration of amounts in accounts for higher education expenses in benefit eligibility determinations), Oregon tax laws and the Internal Revenue Code; or
(b) Unless the person who provides the information or is the subject of the information expressly agrees in writing that the information may be disclosed.
(5) This section applies only to accounts established for qualified higher education expenses. [Formerly 348.867]
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent. Currency Information