Md. Code Regs. 25.04.01.02

Current through Register Vol. 52, No. 1, January 10, 2025

Section 25.04.01.02 - Definitions

A. In this chapter, the following terms have the meanings indicated.

B. Terms Defined.

(1) "Account holder" means an account holder as defined in Education Article, § 18-1901(c), Annotated Code of Maryland ,who, on or after November 1, 2021, had an open and existing prepaid contract, as determined by the Treasurer in the Treasurer's sole discretion.

(2) "Claim" means a written demand for monetary damages arising from the administration of the Trust that is submitted to the Treasurer, and that meets the requirements of Regulations .03-.05 of this chapter.

(3) "Claim Administrator" means the person or people delegated by the Treasurer with the administrative duty of processing claims.

(4) "Claim Portal" means the online system used for submission and administration of claims.

(5) "Claimant" means an account holder or qualified beneficiary who submits a claim in accordance with the claim process established in these regulations.

(6) "Eligible institution of higher education" means an eligible institution of higher education as defined in Education Article, § 18-1901(f), Annotated Code of Maryland.

(7) "Maryland 529" means the Maryland 529 Program created by Education Article, Title 18, Subtitle 19, Annotated Code of Maryland.

(8) "Prepaid contract" means a prepaid contract as defined in Education Article, § 18-1901(j), Annotated Code of Maryland.

(9) "Qualified beneficiary" means a qualified beneficiary as defined in Education Article, § 18-1901(l), Annotated Code of Maryland, who, on or after November 1, 2021, was a qualified beneficiary of an open and existing prepaid contract, as determined by the Treasurer in the Treasurer's sole discretion.

(10) "Qualified higher education expenses" means those qualified higher education expenses as defined in Education Article, § 18-1901(m), Annotated Code of Maryland.

(11) "Qualified state tuition program" means a qualified state tuition program as defined in Education Article, § 18-1901(n), Annotated Code of Maryland.

(12) "State personnel" means a State employee or official who is paid in whole or in part by the Central Payroll Bureau in the Office of the Comptroller.

(13) "Submit" or its variations means actual receipt by the Treasurer.

(14) "Treasurer" means the State Treasurer of Maryland or the Treasurer's Designee.

(15) "Treasurer's designee" means only the Chief Deputy Treasurer, the Deputy Treasurer for the Maryland 529 Program, or the Director of Maryland 529.

(16) "Trust" means the Maryland Senator Edward J. Kasemeyer Prepaid College Trust established under Education Article, Title 18, Subtitle 19, Annotated Code of Maryland.

Md. Code Regs. 25.04.01.02

Regulation .02 adopted effective 51:20 Md. R. 900, eff. 10/14/2024.