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provide refunds of administrative fees paid by program participants | | to any class of participants, to provide matching grants to | | encourage savings for higher education to any class of participants | | and to provide scholarship funds for individuals attending | | institutions of higher education in the State. |
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| | | 2. It clarifies that, if an account is opened by an entity | | that is not required by the Internal Revenue Code to designate a | | beneficiary, that participant is not required to designate a | | beneficiary when opening an account. |
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| | | 3. It clarifies that an individual participant may designate | | a successor participant to become owner of the account on the | | death or disability of the current participant. |
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