N.Y. Comp. Codes R. & Regs. tit. 2 § 156.3
Current through Register Vol. 46, No. 53, December 31, 2024
The amount contributed to an account for a designated beneficiary in the Program shall not exceed the amount established by the Comptroller pursuant to Section 8 4.09 of the Mental Hygiene Law. The program manager shall monitor contributions so as to prevent contributions to any account for a designated beneficiary when such contribution would cause the amount of money in such account to exceed this amount. Any amount tendered as a contribution, or portion of a contribution, that if accepted as a contribution would cause the amount in any account to exceed this amount, shall be rejected as a contribution and shall be returned to the contributor.
N.Y. Comp. Codes R. & Regs. Tit. 2 § 156.3