Statutes > South Dakota Statutes > Title 13 - EDUCATION > Chapter 55E - Advance Payment of Higher Education Costs > Section 13-55E-7 - Nontransferability--Substitution of beneficiary.

Section 13-55E-7 - Nontransferability--Substitution of beneficiary.

13-55E-7. Nontransferability--Substitution of beneficiary. An advance payment contract may not be sold or otherwise transferred by the purchaser or beneficiary. Subject to rules promulgated pursuant to chapter 1-26, the purchaser may substitute another individual for the beneficiary originally named in the contract.

Source: SL 1994, ch 145, § 7.