W. Va. Code R. § 112-20-8

Current through Register Vol. XLI, No. 50, December 13, 2024

Section 112-20-8 - Designated beneficiary

8.1. Any individual regardless of age, residency, or relationship to the account owner, including the account owner himself or herself, may be a designated beneficiary under the program.

8.2. There shall be only one designated beneficiary per account.

8.3. Any number of accounts may be opened for a single designated beneficiary. An account owner may not be the account owner for multiple accounts with the same designated beneficiary.

8.4. A designated beneficiary must be an individual and may not be a business, corporation, enterprise, or other entity that is not a natural person.

W. Va. Code R. § 112-20-8