District Of Columbia § 47-4507 - Program limitations.
Full text of District Of Columbia D.C. Code § 47-4507 — Program limitations., with citation guidance and answers to common questions.
§ 47-4507. Program limitations.
47-4507Nothing in this chapter shall be construed to:
Confer upon a designated beneficiary rights or legal interest with respect to an account unless the designated beneficiary is the account owner;
Guarantee that a designated beneficiary will be admitted to an institution of higher education;
Create residency for an individual merely because the individual is a designated beneficiary; or
Guarantee that amounts saved under the Program will be sufficient to cover the qualified higher education expenses of a designated beneficiary.
Nothing in this chapter shall create, or be construed to create, an obligation or guarantee of the District of Columbia, its agencies or instrumentalities, or the Chief Financial Officer, for the benefit of an account owner or designated beneficiary with respect to:
The rate of interest or other return on an account; and
The payment of interest or other return on an account.
Every contract, application, deposit slip, or other similar document that may be used in connection with a contribution to an account shall clearly indicate that the account is not insured by the District of Columbia and that the principal deposited to, or the investment return on, an account is not guaranteed by the District of Columbia.
Annotations
Frequently Asked Questions About District Of Columbia § 47-4507
What does D.C. Code § 47-4507 cover?
Section 47-4507 ("Program limitations.") is part of the D.C. Code, the codified statutory law of District Of Columbia. 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 District Of Columbia § 47-4507?
A common citation format is "D.C. Code § 47-4507" (District Of Columbia). 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 District Of Columbia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the District Of Columbia official source linked on this page or consult a licensed District Of Columbia attorney.
How does District Of Columbia § 47-4507 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in District Of Columbia 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 District Of Columbia.