Alaska § 06.65.160 - Program account contributions.
Full text of Alaska Alaska Statutes § 06.65.160 — Program account contributions., with citation guidance and answers to common questions.
§ 06.65.160. Program account contributions.
(a) As provided by the federal authorizing law, a person may make a contribution to a program account for the designated beneficiary. A person may also make a contribution to a program account under AS 14.40.802 (f)(3).
(b) A person may not make a contribution to open or add to a program account unless the person makes the contribution by using a method of payment acceptable to the department.
(c) Any person may make a contribution to a program account, but the amount that the person may contribute is subject to the limits set by the federal authorizing law, the department, or AS 14.40.802 (f)(3).
(d) The department or the financial contractor shall reject or withdraw from a program account (1) that part of a contribution that exceeds the limit established under (c) of this section; or
(2) the total amount of a contribution, if the department or the financial contractor determines that the (A) value of the program account without the contribution is equal to or greater than the maximum limit established by the federal authorizing statute for the program account; or
(B) designated beneficiary is not an eligible individual during the calendar year in which the contribution is made.
(e) If a person makes a distribution from a program account during a calendar year, the financial contractor shall report the distribution to the federal Internal Revenue Service and to the account owner or the representative of the account owner.
(f) The report under (e) of this section must include the distribution information required by state and federal law.
Frequently Asked Questions About Alaska § 06.65.160
What does Alaska Statutes § 06.65.160 cover?
Section 06.65.160 ("Program account contributions.") is part of the Alaska Statutes, the codified statutory law of Alaska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alaska § 06.65.160?
A common citation format is "Alaska Statutes § 06.65.160" (Alaska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alaska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alaska official source linked on this page or consult a licensed Alaska attorney.
How does Alaska § 06.65.160 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alaska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alaska.