# 11 KAR 12:090: 11 KAR 12:090. Transfer of ownership of Kentucky Educational Savings Plan Trust Program fund

> Kentucky · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_KY_KAR_T011_C012_R090

## Section

- **Citation:** 11 KAR 12:090
- **Heading:** 11 KAR 12:090. Transfer of ownership of Kentucky Educational Savings Plan Trust Program fund
- **Jurisdiction:** Kentucky
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Kentucky Administrative Regulations / Title 011 (Kentucky Higher Education Assistance Authority) / Chapter 012 / 11 KAR 12:090

## Text

Section 1. General Rule. A participant may assign ownership interest in payments to another eligible participant at any time. An assignment of ownership shall only be effective to transfer ownership interest in the trust if the assignment: (1) Is to another individual who qualifies as eligible pursuant to 11 KAR 12:030; (2) Is irrevocable; (3) Transfers all ownership, reversionary rights, and powers of appointment (i.e., power to substitute beneficiaries) and to direct the distribution of benefits; and (4) Is in writing and submitted to the program administrator either by mail or electronically. Section 2. Subject to Section 1 of this administrative regulation and in accordance with KRS Chapter 385, a participant, eighteen (18) years old or older, may make a gift of the ownership interest in the program fund to a minor beneficiary by designating in the assignment that the transfer is to a qualified custodian for the beneficiary. Section 3. Upon receipt of a valid assignment of ownership, the assignee shall be considered the participant for all purposes of KRS 164A.300 through 164A.380, regardless of the source of subsequent payments.

## Nearby sections

- [11 KAR 12:010 11 KAR 12:010. Definitions for 11 KAR Chapter 12](https://www.frixlaw.com/law-library/statutes/STATE_KY_KAR_T011_C012_R010.md)
- [11 KAR 12:020 11 KAR 12:020. General rules for investments and fund transfers](https://www.frixlaw.com/law-library/statutes/STATE_KY_KAR_T011_C012_R020.md)
- [11 KAR 12:030 11 KAR 12:030. Eligibility of beneficiary and participant](https://www.frixlaw.com/law-library/statutes/STATE_KY_KAR_T011_C012_R030.md)
- [11 KAR 12:040 11 KAR 12:040. Residency classification for Kentucky Educational Savings Plan Trust vested participation agreements](https://www.frixlaw.com/law-library/statutes/STATE_KY_KAR_T011_C012_R040.md)
- [11 KAR 12:050 11 KAR 12:050. Substitution of a beneficiary](https://www.frixlaw.com/law-library/statutes/STATE_KY_KAR_T011_C012_R050.md)
- [11 KAR 12:060 11 KAR 12:060. Cancellation, partial withdrawal, and payment of refund](https://www.frixlaw.com/law-library/statutes/STATE_KY_KAR_T011_C012_R060.md)
- [11 KAR 12:070 11 KAR 12:070. Benefits payable from the Kentucky Educational Savings Plan Trust Program fund](https://www.frixlaw.com/law-library/statutes/STATE_KY_KAR_T011_C012_R070.md)
- [11 KAR 12:090 11 KAR 12:090. Transfer of ownership of Kentucky Educational Savings Plan Trust Program fund](https://www.frixlaw.com/law-library/statutes/STATE_KY_KAR_T011_C012_R090.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_KY_KAR_T011_C012_R090. Check the current official text before relying on it. Not legal advice.