OAR 173-006-0005: Designated Beneficiary

(1) For a College Savings Plan, there are no restrictions on the age of a designated beneficiary nor any required relationship between the account owner and the designated beneficiary of an account. (2) For an ABLE Plan the beneficiary and the account owner must be the same person or how designated beneficiaries are defined by the Code. (3) For a College Savings Plan, there is no limit on the number of accounts that may be opened for one designated beneficiary by different account owners. (4) For an ABLE Plan only one account can be opened for each beneficiary or as defined by the Code. (5) For a College Savings Plan, an account owner may also be the designated beneficiary of an account.