N.H. Admin. Code § Csp 303.05

Current through Register No. 49, December 5, 2024
Section Csp 303.05 - Annual Assessments

The trustee shall assess and collect assessments with respect to the accounts and allocate such assessments among accounts so each account bears its fair and proportionate share of the assessments subject to the following provisions:

(a) The daily charge imposed under the trust documents shall not exceed an amount equal to an annual rate of 0.30 percent of the value of the units held in the account;
(b) The trust documents shall provide for reduction or waiver of annual assessments if the value of an account exceeds a certain amount as set forth in the participation agreement, if a participant elects to make automatic contributions to an account, or in such other circumstances that the commission determines would further the purposes of the trust, as specified in Csp 301.01; and
(c) All proceeds from assessments shall be used by the trustee to reimburse the state for such costs and expenses incurred by the treasurer in serving as trustee, including:
(1) Costs and expenses incurred in connection with the establishment and commencement of the trust;
(2) To compensate any private vendor or vendors selected to provide services to the trust;
(3) To defray any other costs and expenses incurred by the trust, including costs and expenses incurred in connection with the establishment and commencement of the trust; or
(4) For such other purposes as the commission shall from time to time determine to further the purposes of the trust, as specified in Csp 301.01 and the scholarship programs described in Csp 600 and Csp 700.

N.H. Admin. Code § Csp 303.05

#7083, eff 8-26-99, EXPIRED: 8-26-07

New. #9585, eff 11-2-09

Amended by Volume XXXVI Number 23, Filed June 9, 2016, Proposed by #11097, Effective 5/17/2016, Expires 5/17/2026.
Amended by Volume XLII Number 2, Filed January 13, 2022, Proposed by #13302, Effective 12/10/2021, Expires 12/10/2031