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Statutes > South Dakota Laws > Title 13 - EDUCATION > Chapter 55E - Advance Payment of Higher Education Costs > Section 13-55E-7 - Nontransferability--Substitution of beneficiary.

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SOUTH DAKOTA STATUTES AND CODES

Section 13-55E-7 - Nontransferability--Substitution of beneficiary.

13-55E-7. Nontransferability--Substitution of beneficiary. An advance payment contract may not be sold or otherwise transferred by the purchaser or beneficiary. Subject to rules promulgated pursuant to chapter 1-26, the purchaser may substitute another individual for the beneficiary originally named in the contract.

Source: SL 1994, ch 145, § 7.

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