Common use of Residual Account Balances Clause in Contracts

Residual Account Balances. If the designated beneficiary graduates from an institution of higher education or chooses not to pursue higher educa- tion and assets remain in the Account, the Account Owner can choose from three options. The last two options would not constitute a non-qualified distribution.

Residual Account Balances. If the designated beneficiary graduates from an institution of higher education or chooses not to pursue higher educa- tion education and assets remain in the Account, the Account Owner can choose from three options. The last two options would not constitute a non-qualified distributionwithdrawal.