Maximum Permissible Contributions Sample Clauses
The Maximum Permissible Contributions clause sets a cap on the amount of money or resources that a party is allowed to contribute under an agreement. In practice, this clause specifies a clear upper limit, such as a dollar amount or percentage, that cannot be exceeded regardless of circumstances. By establishing this boundary, the clause helps prevent over-contribution, ensures budgetary control, and protects parties from unexpected financial obligations.
Maximum Permissible Contributions. The Board will, from time to time, establish the maximum aggregate Account balance value (the “Maximum Contribution Limit”), which will limit the amount of contributions that may be made to Accounts for any one Beneficiary, as required by Section 529, the Act and the Program Regulations. Contributions that would result in an aggregate balance in all the Accounts for the same Beneficiary in excess of the Maximum Contribution Limit will not be accepted and will be returned to the contributor (the “Contributor”). The balance in all Accounts for the same Beneficiary established under all Section 529 college savings programs sponsored by the State of Nevada under the Act will be aggregated with the balances in all Accounts established in the Plan in applying the Maximum Contribution Limit. The current Maximum Contribution Limit is set forth in the Plan Description and is subject to change at any time by the Board.
Maximum Permissible Contributions. The Board will, from time to time, establish the maximum account balance value (Maximum Balance), whichwilllimittheamountofcontributionsthatmaybemadeto Accounts for any one designated beneficiary, as required by the Code, the Act, and the Plan Regulations. To the extent that contributions would result in an aggregate balance in all the Accounts in excess of the Maximum Balance, the excess will not be accepted and will be returned to the contributor. The initial Maximum Balance is set forth in the Plan Description and is subject to change at any time by the Board. The balance in any accounts held for a designated beneficiary in any other account in the Nevada college savings program (Nevada College Savings Program) will also be aggregated with the balances in Accounts in applying the Maximum Balance.
Maximum Permissible Contributions. The Trustee, from time to time, will establish limits on the amount of contributions that may be made to Accounts for any one Beneficiary, as required by the Code, the Act, and applicable rules. Contributions in excess of those limits will not be accepted and will be returned to the contributor.
Maximum Permissible Contributions. The Board will, from time to time, establish the maximum account balance value (Maximum Ac- count Balance), which will limit the amount of contributions that may be made to Accounts for any one designated beneficiary, as required by the Code, the Act, and the Plan Regulations. To the extent that con- tributions would result in an aggregate balance in all the Accounts in excess of the Maximum Account Balance, the excess will not be ac- cepted and will be returned to the contributor. The initial Maximum Account Balance is set forth in the Plan Description and is subject to change at any time by the Board. The balance in any accounts held for a designated beneficiary in any other account in the Nevada college savings program (Nevada College Savings Program) will also be aggre- gated with the balances in Accounts in applying the Maximum Ac- count Balance.