# R.I. Gen. Laws § 16-57-6.2: Ownership of assets €” Transfer of ownership rights

> Rhode Island · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_RI_T16_C16-57_S16-57-6.2

## Section

- **Citation:** R.I. Gen. Laws § 16-57-6.2
- **Heading:** Ownership of assets €” Transfer of ownership rights
- **Jurisdiction:** Rhode Island
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** RI Code / Title 16 / Chapter 16-57 / Section 16-57-6.2

## Text

(a) The participant retains ownership of all assets properly allocated to an account maintained for the participant in the tuition savings program up to the date of withdrawal or distribution of these from the program.

(b) All assets of the tuition savings program shall be considered to be held in trust. As required by the Internal Revenue Code, no interest in the tuition savings program or any portion of these may be used as security for a loan.

(c) A participant may transfer ownership rights in the tuition savings program to another participant or designate a new beneficiary insofar as permitted by § 529 of the Internal Revenue Code [26 U.S.C. § 529] under such conditions as the treasurer deems appropriate.

## Nearby sections

- [R.I. Gen. Laws § 16-57-1 § 16-57-1. Short title.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T16_C16-57_S16-57-1.md)
- [R.I. Gen. Laws § 16-57-2 § 16-57-2. Findings.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T16_C16-57_S16-57-2.md)
- [R.I. Gen. Laws § 16-57-3 § 16-57-3. Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T16_C16-57_S16-57-3.md)
- [R.I. Gen. Laws § 16-57-4 § 16-57-4. Authorization and powers.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T16_C16-57_S16-57-4.md)
- [R.I. Gen. Laws § 16-57-4.1 § 16-57-4.1. Dissolution of division of higher education assistance €” Transfer of functions.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T16_C16-57_S16-57-4.1.md)
- [R.I. Gen. Laws § 16-57-4.2 § 16-57-4.2. Tuition savings program fund.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T16_C16-57_S16-57-4.2.md)
- [R.I. Gen. Laws § 16-57-6.1 § 16-57-6.1. Tuition savings program.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T16_C16-57_S16-57-6.1.md)
- [R.I. Gen. Laws § 16-57-6.2 § 16-57-6.2. Ownership of assets €” Transfer of ownership rights.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T16_C16-57_S16-57-6.2.md)
- [R.I. Gen. Laws § 16-57-6.3 § 16-57-6.3. Tax-exempt earnings.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T16_C16-57_S16-57-6.3.md)
- [R.I. Gen. Laws § 16-57-6.5 § 16-57-6.5. Annual audited financial report to the governor and general assembly.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T16_C16-57_S16-57-6.5.md)
- [R.I. Gen. Laws § 16-57-6.7 § 16-57-6.7. Construction.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T16_C16-57_S16-57-6.7.md)
- [R.I. Gen. Laws § 16-57-7 § 16-57-7. Council on postsecondary education.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T16_C16-57_S16-57-7.md)
- [R.I. Gen. Laws § 16-57-8 § 16-57-8. Designated agency.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T16_C16-57_S16-57-8.md)
- [R.I. Gen. Laws § 16-57-9 § 16-57-9. Loans to minors €” Loan obligations.](https://www.frixlaw.com/law-library/statutes/STATE_RI_T16_C16-57_S16-57-9.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_RI_T16_C16-57_S16-57-6.2. Check the current official text before relying on it. Not legal advice.