Section 6901.312 - Eligible beneficiariesNotwithstanding any other eligibility criteria established by the board, the following shall apply:
(1) In order to be eligible as a beneficiary, a person must be one of the following:(i) A resident of this Commonwealth at the time the Tuition Account Program Contract is entered into on the person's behalf.(ii) A nonresident if the Tuition Account Program Contract entered into on the person's behalf is entered into by a resident of this Commonwealth, including any legal entity with its principal place of business located within this Commonwealth.(iii) A nonresident if the Tuition Account Program Contract is for a tuition account investment contract.(2) The account owner must designate a beneficiary at the time the account owner enters into a Tuition Account Program Contract unless the contract is made pursuant to a scholarship program.(3) Unless the Tuition Account Program Contract is established as a scholarship pursuant to section 318, the account owner may substitute for the current beneficiary only a member of the family of that beneficiary upon approval by the department. "Member of the family" is defined by section 529 of the Internal Revenue Code of 1986 ( Public Law 99-514,26 U.S.C. § 529 ).1992, April 3, P.L. 28, No. 11, § 312, imd. effective. Amended 2000, June 22, P.L. 418, No. 58, § 5, effective in 60 days.