Naming of designated beneficiary and transfers of accounts
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AR Code › Title 6 › Chapter 84 › Section 6-84-108
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(a) An account owner shall have the right to name the designated beneficiary of an account and 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. (b) At the direction of an account owner, all or a portion of an account may be transferred to another account of which the designated beneficiary is a member of the family of the designated beneficiary of the transferee account if the transferee account was created by this chapter or under another qualified tuition program maintained in accordance with 26 U.S.C. § 529 , as in effect on January 1, 2020. Amended by Act 2021, No. 966,§ 13, eff. 7/28/2021. Amended by Act 2018EX2, No. 15,§ 3, eff. for tax years beginning on or after 1/1/2018. Amended by Act 2018EX2, No. 8,§ 3, eff. 1/1/2018. Amended by Act 2017, No. 884,§ 10, eff. 8/1/2017. Amended by Act 2017, No. 155,§ 5, eff. for tax years beginning on and after 1/1/2015. Amended by Act 2015, No. 580,§ 9, eff. for tax years beginning on or after January 1, 2014. Acts 1999, No. 996, § 10; 2003, No. 515, § 1; 2007, No. 218, § 5; 2011, No. 787, § 5.
(a) An account owner shall have the right to name the designated beneficiary of an account and 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.
(b) At the direction of an account owner, all or a portion of an account may be transferred to another account of which the designated beneficiary is a member of the family of the designated beneficiary of the transferee account if the transferee account was created by this chapter or under another qualified tuition program maintained in accordance with 26 U.S.C. § 529 , as in effect on January 1, 2020.
Amended by Act 2021, No. 966,§ 13, eff. 7/28/2021.
Amended by Act 2018EX2, No. 15,§ 3, eff. for tax years beginning on or after 1/1/2018.
Amended by Act 2018EX2, No. 8,§ 3, eff. 1/1/2018.
Amended by Act 2017, No. 884,§ 10, eff. 8/1/2017.
Amended by Act 2017, No. 155,§ 5, eff. for tax years beginning on and after 1/1/2015.
Amended by Act 2015, No. 580,§ 9, eff. for tax years beginning on or after January 1, 2014.
Acts 1999, No. 996, § 10; 2003, No. 515, § 1; 2007, No. 218, § 5; 2011, No. 787, § 5.
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