ACCUMULATED INCOME PAYMENTS. At a particular time, upon receipt of a written direction from the Subscriber in such form as is acceptable to the Promoter, the Promoter shall pay out of the net accumulated income (including capital appreciation) of the Plan such amount or amounts as outlined in subsection 204.94(2) of the Tax Act, (less applicable taxes, if any, required to be withheld from any such amount or amounts) as the Subscriber shall direct. Accumulated Income Payments may be paid under the Plan only if a) the payment is made to, or on behalf of a person and not jointly to, or on behalf of, more than one person;
Appears in 4 contracts
Samples: Self Directed Education Savings Plan (Esp) Individual Plan, Self Directed Education Savings Plan (Esp) Family Plan, Self Directed Education Savings Plan (Esp) Individual Plan
ACCUMULATED INCOME PAYMENTS. At a particular time, upon receipt of a written direction from the Subscriber in such form as is acceptable to the Promoter, the Promoter shall pay out of the net accumulated income (including capital appreciation) of the Plan such amount or amounts as outlined in subsection 204.94(2) of the Tax Act, (less applicable taxes, if any, required to be withheld from any such amount or amounts) as the Subscriber shall direct. Accumulated Income Payments may be paid under the Plan only if a) the payment is made to, or on behalf of a person and not jointly to, or on behalf of, more than one person;if
Appears in 2 contracts
Samples: Family Education Savings Plan, Family Education Savings Plan
