Common use of Change of Designated Beneficiary Clause in Contracts

Change of Designated Beneficiary. (a) If elected in the Adoption Agreement, while the Designated Beneficiary is a minor or otherwise lacks legal capacity, the Responsible Individual may at any time change the Designated Beneficiary for this Xxxxxxxxx ESA to any member of the family under the age of 30 of the original Designated Beneficiary or direct the Custodian to roll over or transfer the funds in this Xxxxxxxxx ESA to a Xxxxxxxxx ESA for any member of the family under the age of 30 of the original Designated Beneficiary. If elected in the Adoption Agreement, when the Designated Beneficiary has legal capacity, the Designated Beneficiary may at any time change the Designated Beneficiary for this Xxxxxxxxx ESA to any member of the family under the age of 30 of the original Designated Beneficiary or direct the Custodian to roll over or transfer the funds in this Xxxxxxxxx ESA to a Xxxxxxxxx ESA for any member of the family under the age of 30 of the original Designated Beneficiary. (b) Any change of Designated Beneficiary under this Xxxxxxxxx ESA agreement shall not be treated as a distribution, if the new Designated Beneficiary is a Member of the Family (as defined under section 10.10) and such new Designated Beneficiary has not attained the age of 30, as of the date of such change.

Change of Designated Beneficiary. (a) If elected in the Adoption Agreement, while the Designated Beneficiary is a minor or otherwise lacks legal capacity, the Responsible Individual may at any time change the Designated Beneficiary for this Xxxxxxxxx ESA to any member of the family under the age of 30 of the original Designated Beneficiary or direct the Custodian to roll over or transfer the funds Funds in this Xxxxxxxxx ESA to a Xxxxxxxxx ESA for any member of the family under the age of 30 of the original Designated Beneficiary. If elected in the Adoption Agreement, when the Designated Beneficiary has legal capacity, the Designated Beneficiary may at any time change the Designated Beneficiary for this Xxxxxxxxx ESA to any member of the family under the age of 30 of the original Designated Beneficiary or direct the Custodian to roll over or transfer the funds Funds in this Xxxxxxxxx ESA to a Xxxxxxxxx ESA for any member of the family under the age of 30 of the original Designated Beneficiary. (b) Any change of Designated Beneficiary under this Xxxxxxxxx ESA Custodial Account agreement shall not be treated as a distribution, if the new Designated Beneficiary is a Member member of the Family family (as defined under section 10.10Section 13 below) and such new Designated Beneficiary has not attained the age of 30, as of the date of such change. (c) Notwithstanding Section 3.01, a new Designated Beneficiary may be named within 30 days after the Designated Beneficiary attains the age of 30.

Change of Designated Beneficiary. (a) If elected in the Adoption Agreement, while the Designated Beneficiary is a minor or otherwise lacks legal capacity, the Responsible Individual may at any time change the Designated Beneficiary for this Xxxxxxxxx ESA to any member of the family under the age of 30 of the original Designated Beneficiary or direct the Custodian to roll over or transfer the funds Funds in this Xxxxxxxxx ESA to a Xxxxxxxxx ESA for any member of the family under the age of 30 of the original Designated Beneficiary. If elected in the Adoption Agreement, when the Designated Beneficiary has legal capacity, the Designated Beneficiary may at any time change the Designated Beneficiary for this Xxxxxxxxx ESA to any member of the family under the age of 30 of the original Designated Beneficiary or direct the Custodian to roll over or transfer the funds Funds in this Xxxxxxxxx ESA to a Xxxxxxxxx ESA for any member of the family under the age of 30 of the original Designated Beneficiary. (b) Any change of Designated Beneficiary under this Xxxxxxxxx ESA Custodial Account agreement shall not be treated as a distribution, if the new Designated Beneficiary is a Member member of the Family family (as defined under section 10.10Section 13 below) and such new Designated Beneficiary has not attained the age of 30, as of the date of such change.

Change of Designated Beneficiary. (a) If elected in the Adoption Agreement, while prior to the date that the Designated Beneficiary is a minor reaches the age of majority under applicable state law or otherwise lacks legal capacity, the Responsible Individual may at any time change the Designated Beneficiary for this Xxxxxxxxx ESA the Custodial Account to any family member of the family original Designated Beneficiary under the age of 30 of the original Designated Beneficiary or direct the Custodian to roll over or transfer the funds in this Xxxxxxxxx ESA the Custodial Account to a Xxxxxxxxx ESA for any of a family member of the family original Designated Beneficiary under the age of 30 of the original Designated Beneficiary30. If elected in the Adoption Agreement, when the Designated Beneficiary has while in possession of legal capacity, the Designated Beneficiary may at any time change the Designated Beneficiary for this Xxxxxxxxx ESA of the Custodial Account to any a family member of the family original Designated Beneficiary under the age of 30 of the original Designated Beneficiary or may at any time direct the Custodian to roll over or transfer the funds in this Xxxxxxxxx ESA the Custodial Account to a Xxxxxxxxx ESA for of any family member of the family original Designated Beneficiary under the age of 30 of the original Designated Beneficiary30. (b) Any change of Designated Beneficiary under this Xxxxxxxxx ESA agreement Custodial Account Agreement complying with subsection (a) above shall not be treated as a distribution, distribution if the new Designated Beneficiary is a Member member of the Family family (as defined under section 10.10Section 21.b below) and such new Designated Beneficiary has not attained the age of 30, as of the date of such change. (c) Notwithstanding any other provision of the Custodial Account agreement, a new Designated Beneficiary may be named within 30 days after the Designated Beneficiary attains the age of 30.

Change of Designated Beneficiary. (a) If elected in the Adoption Agreement, while the Designated Beneficiary is a minor or otherwise lacks legal capacity, the Responsible Individual may at any time change the Designated Beneficiary for this Xxxxxxxxx ESA to any member of the family under the age of 30 of the original Designated Beneficiary or direct the Custodian to roll over or transfer the funds in this Xxxxxxxxx ESA to a Xxxxxxxxx ESA for any member of the family under the age of 30 of the original Designated Beneficiary. If elected in the Adoption Agreement, when the Designated Beneficiary has legal capacity, the Designated Beneficiary may at any time change the Designated Beneficiary for this Xxxxxxxxx ESA to any member of the family under the age of 30 of the original Designated Beneficiary or direct the Custodian to roll over or transfer the funds in this Xxxxxxxxx ESA to a Xxxxxxxxx ESA for any member of the family under the age of 30 of the original Designated Beneficiary. (b) Any change of Designated Beneficiary under this Xxxxxxxxx ESA agreement shall not be treated as a distribution, if the new Designated Beneficiary is a Member of the Family (as defined under section 10.10) and such new Designated Beneficiary has not attained the age of 30, as of the date of such change. (c) Notwithstanding Section 3.01, a new Designated Beneficiary may be named within 30 days after the Designated Beneficiary attains the age of 30.

Change of Designated Beneficiary. (a) If elected in the Adoption Agreement, while the Designated Beneficiary is a minor or otherwise lacks legal capacity, the Responsible Individual may at any time change the Designated Beneficiary for this Xxxxxxxxx ESA to any member of the family under the age of 30 of the original Designated Beneficiary or direct the Custodian to roll over or transfer the funds in this Xxxxxxxxx ESA to a Xxxxxxxxx ESA for any member of the family under the age of 30 of the original Designated Beneficiary. If elected in the Adoption Agreement, when the Designated Beneficiary has legal capacity, the Designated Beneficiary may at any time change the Designated Beneficiary for this Xxxxxxxxx ESA to any member of the family under the age of 30 of the original Designated Beneficiary or direct the Custodian to roll over or transfer the funds in this Xxxxxxxxx ESA to a Xxxxxxxxx ESA for any member of the family under the age of 30 of the original Designated Beneficiary. (b) Any change of Designated Beneficiary under this Xxxxxxxxx ESA agreement shall not be treated as a distribution, if the new Designated Beneficiary is a Member of the Family (as defined under section 10.1010.12) and such new Designated Beneficiary has not attained the age of 30, as of the date of such change. (c) Notwithstanding Section 3.01, a new Designated Beneficiary may be named within 30 days after the Designated Beneficiary attains the age of 30.

Change of Designated Beneficiary. (a) If elected in the Adoption Agreement, while the Designated Beneficiary is a minor or otherwise lacks legal capacity, the Responsible Individual may at any time change the Designated Beneficiary for this Xxxxxxxxx ESA to any member of the family under the age of 30 of the original Designated Beneficiary or direct the Custodian to roll over or transfer the funds in this Xxxxxxxxx ESA to a Xxxxxxxxx ESA for any member of the family under the age of 30 of the original Designated Beneficiary. If elected in the Adoption Agreement, when the Designated Beneficiary has legal capacity, the Designated Beneficiary may at any time change the Designated Beneficiary for this Xxxxxxxxx ESA to any member of the family under the age of 30 of the original Designated Beneficiary or direct the Custodian to roll over or transfer the funds in this Xxxxxxxxx ESA to a Xxxxxxxxx ESA for any member of the family under the age of 30 of the original Designated Beneficiary. (b) Any change of Designated Beneficiary under this Xxxxxxxxx ESA agreement shall not be treated as a distribution, if the new Designated Beneficiary is a Member of the Family (as defined under section 10.1010.12) and such new Designated Beneficiary has not attained the age of 30, as of the date of such change. • Notwithstanding Section 3.01, a new Designated Beneficiary may be named within 30 days after the Designated Beneficiary attains the age of 30.