Alaska § 06.65.390 - Definitions.

§ 06.65.390. Definitions.

In this chapter,        (1) “department” means the Department of Revenue;

 (2) “designated beneficiary” means the eligible individual for whom a program account for qualified expenses is established under this chapter;

 (3) “eligible individual” means an individual who is eligible under AS 06.65.100 ;

 (4) “federal authorizing law” means 26 U.S.C. 529A (Internal Revenue Code) and the regulations issued under that statute;

 (5) “financial contractor” means a person that enters into a contract with the department under this chapter to provide program accounts;

 (6) “member of the family” has the meaning given in the federal authorizing statute;

 (7) “program” means the Alaska savings program for eligible individuals established under AS 06.65.010 ;

 (8) “program account” means a savings account used by the program to meet the qualified disability expenses of the designated beneficiary of the account;

 (9) “program account owner” means the designated beneficiary of a program account;

 (10) “qualified expense” means a qualified disability expense as defined by the federal authorizing law;

 (11) “representative” means a person who is a representative of an eligible individual under AS 06.65.110 (a);

 (12) “savings account” means a financial account;

 (13) “secretary” means the United States Secretary of the Treasury.