Common use of Maximum Account Balance Clause in Contracts

Maximum Account Balance. (a) The Board periodically reviews the Maximum Account Balance pursuant to IRS regulations and publishes the amount on the Board’s website (xxxxxxxxxxxxxxxx.xxx). (b) The Maximum Account Balance may be lower than other Qualified Tuition Programs and lower than previously published amounts for the Program. (c) Contributions will be rejected and returned to the extent the amount of the contribution would cause the total balance of the Account(s) plus the sum of all payments required for any Florida Prepaid College Plan(s) for the Beneficiary to exceed the Maximum Account Balance. However, Accounts that have reached the Maximum Account Balance may continue to accrue earnings.

Maximum Account Balance. (a) The Board periodically reviews the Maximum Account Balance pursuant to IRS regulations and publishes the amount on the Board’s website (xxxxxxxxxxxxxxxx.xxxxxx.XxXxxxxxxXxxxxxx.xxx). (b) The Maximum Account Balance may be lower than other Qualified Tuition Programs and lower than previously published amounts for the Program. (c) Contributions will be rejected and returned to the extent the amount of the contribution would cause the total balance of the Account(s) plus the sum redemption value of all payments required for any Florida Prepaid College Plan(s) for the Beneficiary to exceed the Maximum Account Balance. However, Accounts that have reached the Maximum Account Balance may continue to accrue earnings.

Maximum Account Balance. (a) The Board periodically reviews the Maximum Account Balance pursuant to IRS regulations and publishes the amount on the Board’s website (xxxxxxxxxxxxxxxx.xxx). (b) The Maximum Account Balance may be lower than other Qualified Tuition Programs and lower than previously published amounts for the Program. (c) Contributions will be rejected and returned to the extent the amount of the contribution would cause the total balance of the Account(s) plus the sum of all payments required for any Florida Prepaid College Plan(s) for the Beneficiary to exceed the Maximum Account Balance. However, Accounts that have reached the Maximum Account Balance may continue to accrue earnings.