Section Csp 101.01 - Terms Used Throughout TitleThe following terms have the following meanings throughout this title, unless the context requires otherwise:
(a) "Account" means a separate ledger maintained within or for the trust to enable the trustee to make a separate accounting for holdings of a participant for the benefit of a designated beneficiary and transactions made with respect to units;(b) "Annual adjusted account base" means, with respect to any designated beneficiary, as of any determination date, the sum of the value of all units held in one or more accounts in existence for such designated beneficiary as of the close of business of the last day of the immediately preceding calendar year plus any contributions to such accounts or additional accounts established for the same beneficiary between such last day and the determination date;(c) "Commission" means the New Hampshire college tuition savings plan advisory commission established pursuant to RSA 195-H:2, I;(d) "Code" means the Internal Revenue Code of 1986, set forth at 26 U.S.C. §§ 1 et. seq., as amended from time to time;(e) "Declaration of Trust" means that certain indenture executed by the treasurer of the State of New Hampshire setting forth the rights, privileges and obligations of the trustee and the participants and beneficiaries of the plan;(f) "Designated beneficiary" means a person selected by a participant in accordance with a participation agreement as the beneficiary of funds maintained in an account established by such participant;(g) "Eligible educational institution" means an "eligible educational institution" as defined in section 529(e)(5) of the Code;(h) "Member of the family" means a "member of the family" as defined in section 529(e)(2) of the Code;(i) "Participant" means any person who executes a participation agreement and who makes contributions in an account on behalf of a designated beneficiary, regardless of the residence of such contributor, and any person who is a successor in interest to such contributor;(j) "Participation agreement" means the written agreement between a participant and the trust, substantially in the form required by the Declaration of Trust;(k) "Plan" means the higher education savings program established through the trust;(l) "Qualifying distribution" means any distribution that is made pursuant to a distribution notice that is accompanied by evidence of qualification;(m) "Qualified higher education expenses" means "qualified higher education expenses as defined in section 529(e)(3) of the Code;(n) "Qualified state tuition program" means a "qualified state tuition savings program" as defined in section 529(b) of the Code;(o) "Treasurer" means the treasurer of the State of New Hampshire;(p) "Trust" means the New Hampshire Higher Education Savings Plan Trust established pursuant to the trust documents;(q) "Trust documents" mean the Declaration of Trust dated January 15, 1998, as amended from time to time, together with all participation agreements executed by participants and which bind such participants to the terms of the trust;(r) "Trustee" means the treasurer, acting as fiduciary for the trust;(s) "Unit" means a single undivided interest of a determinant quantity in any of the investment portfolios of the trust.N.H. Admin. Code § Csp 101.01
#7082, eff 8-26-99; ss by #9583, eff 11-2-09