Chapter 1 - Wallace-Folsom Prepaid College Tuition Trust Fund
- Section 16-33C-1 Legislative intent
The Legislature of Alabama hereby finds and determines that the advancement and improvement of higher education in the State of Alabama is a proper ...
- Section 16-33C-2 Short title
This chapter shall be known as the "Wallace-Folsom College Savings Investment Plan Act." ...
- Section 16-33C-2.1 Creation and administration of plan
There is hereby created the Wallace-Folsom College Savings Investment Plan (plan) as an agency and instrumentality of the State of Alabama. The plan consists ...
- Section 16-33C-3 Definitions
The following terms as used in this chapter shall have the meanings ascribed to them, unless the context clearly indicates otherwise: (1) ACES ADMINISTRATIVE ...
- Section 16-33C-4 Composition of board
(a) The board shall consist of 10 members as follows: (1) The Lieutenant Governor, or his or her designee. (2) The Executive Director of ...
- Section 16-33C-5 Powers of board
In addition to the powers granted by any other provision of this chapter, the board shall have, as agents of the State of Alabama, ...
- Section 16-33C-6 PACT Program generally
(a) The PACT Program is established as one college savings alternative under the plan whereby purchasers enter into PACT contracts for the future payment ...
- Section 16-33C-7 PACT contract
(a) Each PACT contract shall include, but shall not be limited to, the following terms: (1) The amount and the number of contract payments ...
- Section 16-33C-8 Additional PACT duties of board
In addition to any other requirements of this chapter, the board shall: (1) Make available summary information on the financial condition of the PACT ...
- Section 16-33C-9 Dissolution of PACT Program
In the event of dissolution of the PACT Program by the Alabama Legislature, any balances which remain in the PACT Trust Fund and in ...
- Section 16-33C-10 ACES Program generally
THIS SECTION WAS AMENDED IN THE 2006 REGULAR SESSION, EFFECTIVE MAY 1, 2006. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) The ACES ...
- Section 16-33C-11 ACES savings agreements
(a) Each savings agreement made pursuant to the ACES Program shall include, but shall not be limited to, the following terms and provisions: (1) ...
- Section 16-33C-12 Additional ACES duties of the board
In addition to any other requirements of this chapter, the board shall: (1) Make available summary information on the ACES Program to all contributors ...
- Section 16-33C-13 Dissolution of ACES Program
In the event of dissolution of the ACES Program by the Alabama Legislature, any balances which remain in the ACES Trust Fund and in ...
